Park Avenue Securities LLC Has $1.83 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Park Avenue Securities LLC lowered its position in EMCOR Group, Inc. (NYSE:EME) by 24.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,012 shares of the construction company’s stock after selling 1,659 shares during the quarter. Park Avenue Securities LLC’s holdings in EMCOR Group were worth $1,830,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in EMCOR Group in the fourth quarter worth $153,739,000. Burgundy Asset Management Ltd. increased its holdings in shares of EMCOR Group by 1.7% during the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after acquiring an additional 11,479 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of EMCOR Group by 20.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after acquiring an additional 73,975 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of EMCOR Group by 93.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock valued at $91,791,000 after acquiring an additional 205,793 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the completion of the transaction, the director now owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

EMCOR Group Trading Down 0.7 %

EMCOR Group stock traded down $2.34 on Wednesday, reaching $348.09. 396,505 shares of the stock were exchanged, compared to its average volume of 473,689. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $401.98. The firm has a fifty day moving average price of $371.01 and a two-hundred day moving average price of $338.44. The stock has a market cap of $16.36 billion, a PE ratio of 22.96 and a beta of 1.06.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $3.76 by $1.49. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. Equities analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Analyst Ratings Changes

Separately, DA Davidson increased their price target on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

About EMCOR Group

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.