EMCOR Group, Inc. (NYSE:EME) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,244 shares of the construction company's stock after selling 23,292 shares during the period. Bank of America Corp DE owned approximately 0.42% of EMCOR Group worth $87,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EME. Wealth Enhancement Advisory Services LLC boosted its position in shares of EMCOR Group by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,189 shares of the construction company's stock worth $5,248,000 after purchasing an additional 40 shares in the last quarter. Cooper Financial Group boosted its position in shares of EMCOR Group by 22.3% during the 4th quarter. Cooper Financial Group now owns 1,673 shares of the construction company's stock worth $759,000 after purchasing an additional 305 shares in the last quarter. PFW Advisors LLC purchased a new stake in shares of EMCOR Group during the 4th quarter worth $689,000. Wright Investors Service Inc. purchased a new stake in shares of EMCOR Group during the 4th quarter worth $484,000. Finally, Accurate Wealth Management LLC boosted its position in shares of EMCOR Group by 32.0% during the 4th quarter. Accurate Wealth Management LLC now owns 1,394 shares of the construction company's stock worth $651,000 after purchasing an additional 338 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EMCOR Group

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

EMCOR Group Stock Up 1.5%

Shares of EMCOR Group stock traded up $7.04 on Friday, hitting $471.33. The company's stock had a trading volume of 424,039 shares, compared to its average volume of 471,770. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm has a fifty day moving average price of $398.87 and a 200-day moving average price of $443.27. The company has a market capitalization of $21.10 billion, a P/E ratio of 23.94 and a beta of 1.18.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the firm earned $4.17 EPS. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has approved a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on EME. StockNews.com lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $494.50.

EMCOR Group Company 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.