Dai ichi Life Insurance Company Ltd Acquires Shares of 6,781 EMCOR Group, Inc. (NYSE:EME)

Dai ichi Life Insurance Company Ltd acquired a new stake in EMCOR Group, Inc. (NYSE:EME - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,781 shares of the construction company's stock, valued at approximately $2,476,000.

Several other institutional investors and hedge funds have also made changes to their positions in EME. CoreCap Advisors LLC purchased a new position in EMCOR Group during the second quarter worth about $306,000. Meeder Advisory Services Inc. lifted its position in EMCOR Group by 24.0% during the second quarter. Meeder Advisory Services Inc. now owns 1,003 shares of the construction company's stock worth $366,000 after buying an additional 194 shares during the period. DekaBank Deutsche Girozentrale lifted its position in EMCOR Group by 39.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 15,561 shares of the construction company's stock worth $5,774,000 after buying an additional 4,364 shares during the period. D Orazio & Associates Inc. lifted its position in EMCOR Group by 6.1% during the second quarter. D Orazio & Associates Inc. now owns 943 shares of the construction company's stock worth $344,000 after buying an additional 54 shares during the period. Finally, Vest Financial LLC lifted its position in EMCOR Group by 15.0% during the second quarter. Vest Financial LLC now owns 2,952 shares of the construction company's stock worth $1,078,000 after buying an additional 386 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction dated 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 owns 8,637 shares in the company, valued at $3,202,513.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.26% of the company's stock.

EMCOR Group Trading Up 1.6 %

Shares of EMCOR Group stock traded up $6.27 during trading hours on Monday, reaching $402.69. The stock had a trading volume of 198,697 shares, compared to its average volume of 448,372. The firm has a 50 day simple moving average of $368.41 and a two-hundred day simple moving average of $363.31. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of 26.47 and a beta of 1.07. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $403.69.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $3.76 by $1.49. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate 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 business posted $2.95 EPS. Sell-side analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group announced that its Board of Directors has authorized a share repurchase plan on Friday, June 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business 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 was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group's dividend payout ratio (DPR) is currently 6.60%.

Analyst Upgrades and Downgrades

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

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.