Eagle Bay Advisors LLC Sells 52 Shares of EMCOR Group, Inc. (NYSE:EME)

Eagle Bay Advisors LLC lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404 shares of the construction company’s stock after selling 52 shares during the quarter. Eagle Bay Advisors LLC’s holdings in EMCOR Group were worth $147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Matrix Trust Co bought a new position in shares of EMCOR Group during the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. bought a new position in EMCOR Group in the 2nd quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in EMCOR Group in the 1st quarter valued at $28,000. ORG Partners LLC bought a new position in EMCOR Group in the 2nd quarter valued at $31,000. Finally, Independence Bank of Kentucky bought a new position in EMCOR Group in the 1st quarter valued at $33,000. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carol P. Lowe sold 1,245 shares of EMCOR Group stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total value of $465,916.35. Following the sale, the director now directly owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME traded up $3.13 during midday trading on Tuesday, hitting $380.74. The stock had a trading volume of 281,955 shares, compared to its average volume of 455,539. The company’s 50-day simple moving average is $367.61 and its 200 day simple moving average is $352.78. The firm has a market cap of $17.89 billion, a P/E ratio of 25.11 and a beta of 1.06. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $401.98.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The company 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 business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $2.95 EPS. Equities analysts expect that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lifted their price objective on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research 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.