Impact Partnership Wealth LLC Grows Position in EMCOR Group, Inc. (NYSE:EME)

Impact Partnership Wealth LLC raised its stake in EMCOR Group, Inc. (NYSE:EME) by 98.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 905 shares of the construction company’s stock after purchasing an additional 449 shares during the quarter. Impact Partnership Wealth LLC’s holdings in EMCOR Group were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of EMCOR Group in the 4th quarter valued at approximately $153,739,000. Burgundy Asset Management Ltd. grew its stake in shares of EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after purchasing an additional 11,479 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of EMCOR Group by 20.5% in 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 purchasing an additional 73,975 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after purchasing an additional 139,919 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of EMCOR Group by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 356,877 shares of the construction company’s stock valued at $76,882,000 after purchasing an additional 7,241 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value 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 approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

EME opened at $353.44 on Friday. The business has a 50 day simple moving average of $367.33 and a 200-day simple moving average of $357.50. The stock has a market capitalization of $16.61 billion, a P/E ratio of 23.31 and a beta of 1.06. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $401.98.

EMCOR Group (NYSE:EME) last posted its quarterly 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 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 company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. Research analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group Company 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.