Cresset Asset Management LLC Sells 697 Shares of EMCOR Group, Inc. (NYSE:EME)

Cresset Asset Management LLC lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 796 shares of the construction company's stock after selling 697 shares during the quarter. Cresset Asset Management LLC's holdings in EMCOR Group were worth $361,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of EMCOR Group in the fourth quarter valued at approximately $45,000. SJS Investment Consulting Inc. increased its position 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 purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings 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 buying an additional 25 shares in the last quarter. Altshuler Shaham Ltd raised its position in EMCOR Group by 2,063.6% in the fourth quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock valued at $108,000 after purchasing an additional 227 shares during the last quarter. Finally, GeoWealth Management LLC raised its holdings 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 during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Buying and Selling

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction 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 $10,229,474.94. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was 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 in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,197 shares of company stock worth $3,905,748 in the last ninety days. 0.83% of the stock is owned by insiders.

EMCOR Group Stock Down 0.2%

EME stock traded down $0.81 during trading on Monday, reaching $469.62. The stock had a trading volume of 298,803 shares, compared to its average volume of 471,078. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The company's 50 day moving average is $398.87 and its two-hundred day moving average is $443.27. The company has a market capitalization of $21.02 billion, a price-to-earnings ratio of 23.85 and a beta of 1.18.

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 for the quarter, beating analysts' consensus estimates of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.17 EPS. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. EMCOR Group's dividend payout ratio (DPR) is currently 4.42%.

Analyst Ratings Changes

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

About EMCOR Group

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.