Cornerstone Select Advisors LLC Takes Position in EMCOR Group, Inc. (NYSE:EME)

Cornerstone Select Advisors LLC purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,163 shares of the construction company's stock, valued at approximately $528,000.

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

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction that occurred on 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 owns 27,642 shares of the company's stock, 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 filing with the SEC, which is available at the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. This trade represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Price Performance

Shares of NYSE EME opened at $433.07 on Wednesday. The company has a market cap of $19.38 billion, a PE ratio of 21.99 and a beta of 1.18. The stock has a fifty day moving average price of $387.34 and a 200 day moving average price of $442.41. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

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 the consensus estimate of $4.57 by $0.84. The company had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.17 EPS. Analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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 shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders 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 dividend on an annualized basis and a yield of 0.23%. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.

Analysts Set New Price Targets

Several research firms have commented on EME. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, EMCOR Group currently has an average rating of "Moderate Buy" and an average target price of $494.50.

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.

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