Healthcare of Ontario Pension Plan Trust Fund Has $6.66 Million Holdings in EMCOR Group, Inc. $EME

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 409.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,017 shares of the construction company’s stock after buying an additional 7,248 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in EMCOR Group were worth $6,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in shares of EMCOR Group in the 1st quarter valued at about $443,000. Public Employees Retirement System of Ohio grew its holdings in EMCOR Group by 26.6% during the first quarter. Public Employees Retirement System of Ohio now owns 25,085 shares of the construction company’s stock worth $18,521,000 after purchasing an additional 5,265 shares during the period. Modern Wealth Management LLC increased its position in EMCOR Group by 11.5% during the first quarter. Modern Wealth Management LLC now owns 427 shares of the construction company’s stock worth $325,000 after buying an additional 44 shares during the last quarter. Greenline Wealth Management LLC increased its position in EMCOR Group by 18.9% during the first quarter. Greenline Wealth Management LLC now owns 277 shares of the construction company’s stock worth $204,000 after buying an additional 44 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in EMCOR Group by 154.9% in the first quarter. Bank of Nova Scotia now owns 37,362 shares of the construction company’s stock valued at $27,585,000 after buying an additional 22,707 shares during the period. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms recently weighed in on EME. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a report on Friday, July 17th. Oppenheimer initiated coverage on shares of EMCOR Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $1,100.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,123.00 target price on shares of EMCOR Group in a report on Tuesday, June 16th. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Zacks Research raised shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $871.25.

EMCOR Group Price Performance

EMCOR Group stock opened at $671.68 on Thursday. The stock’s fifty day moving average price is $803.03 and its two-hundred day moving average price is $786.60. The firm has a market cap of $29.85 billion, a PE ratio of 22.53 and a beta of 1.13. EMCOR Group, Inc. has a one year low of $564.92 and a one year high of $951.96.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, April 29th. The construction company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.90 by $0.94. EMCOR Group had a net margin of 7.54% and a return on equity of 35.19%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the business posted $5.41 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. Sell-side analysts expect that EMCOR Group, Inc. will post 29.37 earnings per share 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. The ex-dividend date is Wednesday, July 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is currently 5.37%.

EMCOR Group Company 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.