Balyasny Asset Management L.P. Decreases Stake in EMCOR Group, Inc. (NYSE:EME)

Balyasny Asset Management L.P. lessened its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 57.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,666 shares of the construction company's stock after selling 18,263 shares during the quarter. Balyasny Asset Management L.P.'s holdings in EMCOR Group were worth $6,203,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in shares of EMCOR Group during the 4th quarter valued at approximately $45,000. SJS Investment Consulting Inc. grew its position in shares of EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after purchasing an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after purchasing an additional 25 shares in the last quarter. Altshuler Shaham Ltd raised its position in shares of EMCOR Group by 2,063.6% during the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock worth $108,000 after purchasing an additional 227 shares during the last quarter. Finally, GeoWealth Management LLC lifted its stake in EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after buying an additional 28 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 3.2%

Shares of EMCOR Group stock traded up $14.69 during trading hours on Tuesday, reaching $472.00. 750,091 shares of the company's stock were exchanged, compared to its average volume of 468,960. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a market capitalization of $21.13 billion, a P/E ratio of 23.97 and a beta of 1.18. The business has a fifty day moving average of $391.10 and a two-hundred day moving average of $442.36.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm earned $4.17 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group's dividend payout ratio is presently 4.42%.

EMCOR Group announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price target on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $494.50.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the transaction, the chief executive officer now owns 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,197 shares of company stock worth $3,905,748. Company insiders own 0.83% 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.