Intech Investment Management LLC Invests $16.76 Million in EMCOR Group, Inc. (NYSE:EME)

Intech Investment Management LLC purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 45,908 shares of the construction company's stock, valued at approximately $16,760,000. Intech Investment Management LLC owned about 0.10% of EMCOR Group as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of EMCOR Group in the 2nd quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in EMCOR Group in the 2nd quarter worth about $27,000. Innealta Capital LLC purchased a new position in EMCOR Group in the 2nd quarter worth about $29,000. ORG Partners LLC bought a new position in EMCOR Group during the 2nd quarter valued at about $31,000. Finally, Independence Bank of Kentucky purchased a new stake in shares of EMCOR Group during the 1st quarter valued at about $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now 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 Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Stock Performance

Shares of NYSE EME traded up $5.55 during midday trading on Friday, hitting $435.60. 713,747 shares of the company's stock traded hands, compared to its average volume of 446,953. The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 28.66 and a beta of 1.07. The firm has a fifty day moving average of $371.92 and a 200 day moving average of $365.34. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $437.10.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company's revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.95 EPS. On average, equities analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group's dividend payout ratio (DPR) is currently 6.60%.

EMCOR Group announced that its board has initiated a stock repurchase program 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 programs are usually a sign that the company's management believes its stock is undervalued.

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.