Virtu Financial LLC Raises Stock Position in EMCOR Group, Inc. (NYSE:EME)

Virtu Financial LLC raised its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 303.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,458 shares of the construction company’s stock after buying an additional 3,353 shares during the period. Virtu Financial LLC’s holdings in EMCOR Group were worth $1,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EME. Matrix Trust Co bought a new position in EMCOR Group in the second quarter valued at about $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group in the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of EMCOR Group in the 1st quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group in the second quarter worth approximately $29,000. Finally, ORG Partners LLC bought a new stake in EMCOR Group during the second quarter valued at approximately $31,000. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson increased their price target on shares of 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 Stock Performance

NYSE:EME opened at $409.20 on Wednesday. The stock has a 50-day simple moving average of $370.09 and a two-hundred day simple moving average of $364.57. The firm has a market capitalization of $19.23 billion, a PE ratio of 26.99 and a beta of 1.07. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $410.67.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. The firm had revenue of $3.67 billion for 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 EPS. Equities analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The company 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. The ex-dividend date of this dividend 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 presently 6.60%.

EMCOR Group announced that its board has initiated a stock repurchase plan on Friday, June 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the sale, the director now directly owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.26% of the stock is owned by corporate insiders.

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.