Van ECK Associates Corp Grows Position in EMCOR Group, Inc. (NYSE:EME)

Van ECK Associates Corp increased its position in EMCOR Group, Inc. (NYSE:EME) by 40.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,958 shares of the construction company’s stock after purchasing an additional 4,031 shares during the period. Van ECK Associates Corp’s holdings in EMCOR Group were worth $3,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Allworth Financial LP grew its position in shares of EMCOR Group by 83.8% in the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after buying an additional 62 shares during the period. CVA Family Office LLC purchased a new stake in EMCOR Group in the fourth quarter worth about $39,000. Cullen Frost Bankers Inc. bought a new position in shares of EMCOR Group during the third quarter valued at approximately $42,000. Alaska Permanent Fund Corp purchased a new position in shares of EMCOR Group during the fourth quarter valued at approximately $43,000. Finally, Lindbrook Capital LLC boosted its position in shares of EMCOR Group by 32.5% in the 4th quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock worth $45,000 after purchasing an additional 51 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EME. KeyCorp initiated coverage on EMCOR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson reissued a “buy” rating and set a $375.00 price objective on shares of EMCOR Group in a research report on Friday, March 22nd.

EMCOR Group Stock Up 2.2 %

Shares of NYSE EME opened at $371.94 on Tuesday. The firm has a market cap of $17.48 billion, a P/E ratio of 24.53 and a beta of 1.07. EMCOR Group, Inc. has a twelve month low of $161.49 and a twelve month high of $376.70. The company has a 50 day moving average of $340.93 and a 200 day moving average of $263.00.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The firm had revenue of $3.43 billion during the quarter. As a group, equities analysts expect that EMCOR Group, Inc. will post 16.1 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Monday, April 15th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Insider Activity

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the sale, the chief executive officer now owns 219,023 shares in the company, valued at $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.