EMCOR Group, Inc. $EME Shares Sold by TrinityBridge Ltd

TrinityBridge Ltd decreased its position in EMCOR Group, Inc. (NYSE:EME) by 21.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 139,359 shares of the construction company’s stock after selling 37,686 shares during the period. EMCOR Group makes up approximately 3.1% of TrinityBridge Ltd’s holdings, making the stock its 9th biggest position. TrinityBridge Ltd owned 0.32% of EMCOR Group worth $105,050,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of EMCOR Group by 13.3% in the second quarter. NewEdge Advisors LLC now owns 17,873 shares of the construction company’s stock worth $14,833,000 after purchasing an additional 2,099 shares in the last quarter. Nykredit A S bought a new stake in shares of EMCOR Group during the second quarter valued at about $18,443,000. Summit Global Investments acquired a new stake in EMCOR Group in the second quarter worth about $3,791,000. Sapient Capital LLC acquired a new stake in EMCOR Group in the second quarter worth about $5,962,000. Finally, Value Aligned Research Advisors LLC lifted its holdings in EMCOR Group by 56.6% in the second quarter. Value Aligned Research Advisors LLC now owns 349,960 shares of the construction company’s stock worth $290,425,000 after purchasing an additional 126,439 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Performance

NYSE EME opened at $705.44 on Wednesday. The stock has a market capitalization of $30.88 billion, a P/E ratio of 20.38 and a beta of 1.16. EMCOR Group, Inc. has a 1 year low of $564.92 and a 1 year high of $951.96. The business’s fifty day moving average is $739.61 and its two-hundred day moving average is $779.84.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, October 29th. The construction company reported $9.60 earnings per share for the quarter, topping the consensus estimate of $8.37 by $1.23. The business had revenue of $5.54 billion during the quarter, compared to analyst estimates of $5.19 billion. EMCOR Group had a return on equity of 36.65% and a net margin of 7.78%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the company posted $6.57 EPS. On average, research analysts forecast that EMCOR Group, Inc. will post 35.13 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were given a $0.40 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is 4.62%.

EMCOR Group announced that its board has initiated a stock buyback program on Thursday, October 29th that authorizes the company to buy back $500 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EME shares. Robert W. Baird raised their target price on shares of EMCOR Group from $900.00 to $918.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. DA Davidson set a $1,047.00 price target on shares of EMCOR Group in a research note on Monday, August 10th. Weiss Ratings cut shares of EMCOR Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, August 27th. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, UBS Group reissued a “buy” rating and set a $1,065.00 target price (up from $975.00) on shares of EMCOR Group in a report on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus price target of $951.86.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction, engineering, and building services through a network of specialty contracting businesses. Its core activities include electrical and mechanical construction, energy infrastructure, building systems, facilities services, and industrial maintenance. The company serves commercial, institutional, industrial, manufacturing, healthcare, education, government, and infrastructure customers.

Its services cover the design, installation, operation, maintenance, and upgrading of electrical, heating, ventilation, air-conditioning, plumbing, fire protection, and building automation systems.