Virtu Financial LLC increased its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 303.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,458 shares of the construction company's stock after purchasing an additional 3,353 shares during the quarter. Virtu Financial LLC's holdings in EMCOR Group were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new stake in shares of EMCOR Group during the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group during the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new stake in shares of EMCOR Group in the second quarter worth approximately $29,000. V Square Quantitative Management LLC purchased a new stake in EMCOR Group in the first quarter valued at approximately $28,000. Finally, ORG Partners LLC acquired a new position in EMCOR Group during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 92.59% of the company's stock.
Insiders Place Their Bets
In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by company insiders.
EMCOR Group Stock Down 0.1 %
Shares of NYSE EME traded down $0.39 during midday trading on Wednesday, hitting $408.81. The stock had a trading volume of 383,970 shares, compared to its average volume of 447,469. The company has a fifty day moving average price of $370.82 and a 200 day moving average price of $364.88. The company has a market capitalization of $19.21 billion, a price-to-earnings ratio of 26.97 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $417.78.
EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the firm earned $2.95 earnings per share. EMCOR Group's revenue for the quarter was up 20.4% on a year-over-year basis. On average, research analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.
EMCOR Group announced that its board has initiated a stock repurchase plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
EMCOR Group Announces Dividend
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 0.24%. EMCOR Group's dividend payout ratio (DPR) is currently 6.60%.
Wall Street Analysts Forecast Growth
Separately, DA Davidson lifted their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a "buy" rating in a report on Friday, July 26th.
Check Out Our Latest Research Report on EME
EMCOR Group Company Profile
(
Free Report)
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.
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