Gateway Wealth Partners LLC Acquires New Stake in EMCOR Group, Inc. $EME

Gateway Wealth Partners LLC bought a new position in EMCOR Group, Inc. (NYSE:EME) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,164 shares of the construction company’s stock, valued at approximately $859,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EME. Whittier Trust Co. of Nevada Inc. raised its position in shares of EMCOR Group by 3.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 356 shares of the construction company’s stock worth $270,000 after purchasing an additional 13 shares during the last quarter. PAX Financial Group LLC increased its stake in EMCOR Group by 3.6% during the 4th quarter. PAX Financial Group LLC now owns 404 shares of the construction company’s stock valued at $247,000 after purchasing an additional 14 shares in the last quarter. Austin Private Wealth LLC increased its stake in EMCOR Group by 3.6% during the 4th quarter. Austin Private Wealth LLC now owns 437 shares of the construction company’s stock valued at $267,000 after purchasing an additional 15 shares in the last quarter. First National Bank of Hutchinson raised its holdings in EMCOR Group by 0.9% in the fourth quarter. First National Bank of Hutchinson now owns 1,614 shares of the construction company’s stock worth $987,000 after buying an additional 15 shares during the last quarter. Finally, Advisors Capital Management LLC raised its holdings in EMCOR Group by 3.4% in the fourth quarter. Advisors Capital Management LLC now owns 450 shares of the construction company’s stock worth $275,000 after buying an additional 15 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Carol P. Lowe sold 950 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total transaction of $802,275.00. Following the transaction, the director directly owned 17,278 shares of the company’s stock, valued at $14,591,271. This represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William P. Reid sold 2,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $925.78, for a total value of $1,851,560.00. Following the completion of the transaction, the director owned 10,149 shares in the company, valued at approximately $9,395,741.22. This trade represents a 16.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.73% of the company’s stock.

EMCOR Group Stock Down 4.8%

Shares of NYSE EME opened at $671.68 on Thursday. The firm’s 50-day moving average price is $803.03 and its 200-day moving average price is $786.60. EMCOR Group, Inc. has a 52-week low of $564.92 and a 52-week high of $951.96. The company has a market cap of $29.85 billion, a PE ratio of 22.53 and a beta of 1.13.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $5.90 by $0.94. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.20 billion. EMCOR Group had a net margin of 7.54% and a return on equity of 35.19%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $5.41 earnings per share. As a group, equities research analysts anticipate that EMCOR Group, Inc. will post 29.37 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, July 15th. EMCOR Group’s payout ratio is 5.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EME. Oppenheimer assumed coverage on shares of EMCOR Group in a report on Thursday, May 28th. They set an “outperform” rating and a $1,100.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $1,123.00 price objective on shares of EMCOR Group in a report on Tuesday, June 16th. Zacks Research raised EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $918.00 target price on EMCOR Group in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $871.25.

EMCOR Group Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.