EMCOR Group, Inc. (NYSE:EME) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 70.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,298 shares of the construction company's stock after selling 75,718 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of EMCOR Group worth $14,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after buying an additional 288,765 shares during the last quarter. Geode Capital Management LLC lifted its holdings in EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after acquiring an additional 25,502 shares during the period. Norges Bank purchased a new stake in EMCOR Group in the 4th quarter worth approximately $299,855,000. First Trust Advisors LP grew its stake in shares of EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after purchasing an additional 129,186 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of EMCOR Group by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company's stock valued at $196,500,000 after purchasing an additional 75,578 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the sale, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Stock Up 4.3 %

EME opened at $430.18 on Friday. The firm's fifty day simple moving average is $386.43 and its two-hundred day simple moving average is $442.68. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 21.85 and a beta of 1.08.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the company posted $4.17 EPS. EMCOR Group's quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's payout ratio is 4.42%.

Wall Street Analyst Weigh In

Several analysts recently commented on EME shares. 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 dropped their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.

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