Investment Management Corp of Ontario Sells 1,702 Shares of EMCOR Group, Inc. (NYSE:EME)

Investment Management Corp of Ontario decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,539 shares of the construction company's stock after selling 1,702 shares during the quarter. Investment Management Corp of Ontario's holdings in EMCOR Group were worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in EMCOR Group during the 4th quarter valued at about $45,000. SJS Investment Consulting Inc. boosted its holdings in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after purchasing an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in EMCOR Group by 14.4% during 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 in the last quarter. Altshuler Shaham Ltd grew its position in EMCOR Group by 2,063.6% during 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 in the last quarter. Finally, GeoWealth Management LLC increased 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 during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Price Performance

EME traded down $5.90 during midday trading on Wednesday, hitting $466.48. 599,268 shares of the company's stock traded hands, compared to its average volume of 470,119. The company has a market cap of $20.88 billion, a PE ratio of 23.69 and a beta of 1.18. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The stock's fifty day simple moving average is $393.05 and its 200-day simple moving average is $442.56.

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

EMCOR Group announced that its Board of Directors has approved a stock buyback 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 reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business 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 dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's payout ratio is presently 4.42%.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction on 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 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 valued at $3,905,748 over the last three months. 0.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EME shares. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research note 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 equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, EMCOR Group has a consensus 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.