Meeder Asset Management Inc. Has $6.82 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Meeder Asset Management Inc. grew its position in EMCOR Group, Inc. (NYSE:EME) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,672 shares of the construction company’s stock after buying an additional 30 shares during the period. Meeder Asset Management Inc.’s holdings in EMCOR Group were worth $6,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC grew its holdings in shares of EMCOR Group by 8.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock valued at $160,000 after buying an additional 34 shares during the period. GAMMA Investing LLC lifted its position in EMCOR Group by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after acquiring an additional 35 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in EMCOR Group by 2.2% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock valued at $787,000 after acquiring an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in EMCOR Group by 30.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock valued at $73,000 after acquiring an additional 47 shares in the last quarter. Finally, Cooper Financial Group lifted its position in EMCOR Group by 3.7% in the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $388.30 on Friday. The company’s 50-day moving average price is $367.74 and its two-hundred day moving average price is $361.47. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $401.98. The stock has a market capitalization of $18.25 billion, a PE ratio of 25.61 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the firm posted $2.95 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts anticipate that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

EMCOR Group announced that its Board of Directors has initiated a share buyback plan on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

Insiders Place Their Bets

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

EMCOR Group 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.