Highland Capital Management LLC Purchases 89 Shares of EMCOR Group, Inc. (NYSE:EME)

Highland Capital Management LLC boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 12.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 822 shares of the construction company’s stock after buying an additional 89 shares during the period. Highland Capital Management LLC’s holdings in EMCOR Group were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors 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 valued at approximately $26,000. Proffitt & Goodson Inc. purchased a new stake in shares of EMCOR Group in the second quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new stake in shares of EMCOR Group in the first quarter worth approximately $28,000. ORG Partners LLC purchased a new stake in shares of EMCOR Group in the second quarter worth approximately $31,000. Finally, Independence Bank of Kentucky purchased a new stake in shares of EMCOR Group in the first quarter worth approximately $33,000. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Up 2.6 %

Shares of EMCOR Group stock traded up $9.54 during trading on Friday, reaching $382.30. The company’s stock had a trading volume of 236,766 shares, compared to its average volume of 458,095. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 25.22 and a beta of 1.06. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98. The company has a 50-day simple moving average of $367.83 and a two-hundred day simple moving average of $350.88.

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, topping analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the firm earned $2.95 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s dividend payout ratio is currently 6.60%.

Insiders Place Their Bets

In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of EMCOR Group stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the completion of the transaction, the director now owns 16,807 shares in the company, valued at approximately $6,289,683.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group 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 transaction, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carol P. Lowe sold 1,245 shares of EMCOR Group stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the completion of the transaction, the director now owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

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.