EMCOR Group, Inc. (NYSE:EME) Short Interest Update

EMCOR Group, Inc. (NYSE:EME) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 950,000 shares, a drop of 7.8% from the August 31st total of 1,030,000 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 416,900 shares, the short-interest ratio is presently 2.3 days.

Insiders Place Their Bets

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

Institutional Trading of EMCOR Group

Several large investors have recently added to or reduced their stakes in the business. Matrix Trust Co bought a new stake in EMCOR Group in the second quarter worth $26,000. Proffitt & Goodson Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new position in shares of EMCOR Group during the 2nd quarter valued at about $29,000. ORG Partners LLC acquired a new position in shares of EMCOR Group during the 2nd quarter valued at about $31,000. Finally, Independence Bank of Kentucky acquired a new stake in EMCOR Group in the 1st quarter worth approximately $33,000. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE EME traded down $2.55 during mid-day trading on Tuesday, reaching $427.98. The company had a trading volume of 274,199 shares, compared to its average volume of 446,751. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 28.25 and a beta of 1.07. The stock has a fifty day moving average of $380.19 and a two-hundred day moving average of $371.26. EMCOR Group has a 12-month low of $191.50 and a 12-month high of $443.96.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating 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%. EMCOR Group’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 EPS. Sell-side analysts forecast that EMCOR Group will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were issued 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 yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group announced that its board has initiated a share buyback plan on Friday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

EME has been the topic of several analyst reports. DA Davidson lifted their target price 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. StockNews.com raised shares of EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

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.