Silver Oak Securities Incorporated Purchases Shares of 2,366 EMCOR Group, Inc. (NYSE:EME)

Silver Oak Securities Incorporated acquired a new stake in EMCOR Group, Inc. (NYSE:EME) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,366 shares of the construction company’s stock, valued at approximately $878,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of EMCOR Group during the fourth quarter worth approximately $299,855,000. GAMMA Investing LLC lifted its position in EMCOR Group by 49,775.5% during the first quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company’s stock worth $138,266,000 after purchasing an additional 373,316 shares during the period. Invesco Ltd. boosted its position in shares of EMCOR Group by 28.0% during the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock worth $598,465,000 after acquiring an additional 288,765 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of EMCOR Group by 94.2% in the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company’s stock valued at $139,349,000 after purchasing an additional 148,915 shares during the last quarter. Finally, First Trust Advisors LP grew its position in EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock valued at $225,332,000 after acquiring an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the transaction, the director now owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the transaction, the chief executive officer now directly owns 208,989 shares of the company’s stock, valued at $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by insiders.

EMCOR Group Price Performance

EME opened at $485.38 on Thursday. The stock’s 50 day simple moving average is $441.95 and its 200 day simple moving average is $439.53. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a market cap of $21.73 billion, a price-to-earnings ratio of 21.45 and a beta of 1.23.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company earned $4.17 earnings per share. EMCOR Group’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s payout ratio is presently 4.42%.

Analyst Ratings Changes

A number of analysts have recently commented on EME shares. Stifel Nicolaus cut their price target on EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, UBS Group started coverage on shares of EMCOR Group in a report on Friday, June 13th. They issued a “buy” rating and a $570.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average target price of $509.60.

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.