Fiduciary Financial Group LLC purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 639 shares of the construction company's stock, valued at approximately $240,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of EMCOR Group during the 4th quarter worth approximately $299,855,000. GAMMA Investing LLC grew its stake in shares of EMCOR Group by 49,775.5% in the first quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock valued at $138,266,000 after buying an additional 373,316 shares in the last quarter. Invesco Ltd. grew 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 valued at $598,465,000 after buying an additional 288,765 shares in the last quarter. Ameriprise Financial Inc. raised its position in EMCOR Group by 94.2% during the fourth quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock worth $139,349,000 after acquiring an additional 148,915 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after acquiring an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.
EMCOR Group Stock Up 0.2%
Shares of NYSE:EME traded up $0.78 during trading on Thursday, reaching $472.67. 105,915 shares of the company traded hands, compared to its average volume of 448,739. The firm has a market capitalization of $21.16 billion, a PE ratio of 24.01 and a beta of 1.23. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The company's 50 day moving average is $430.61 and its two-hundred day moving average is $440.55.
EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $3.78 billion. During the same period in the prior year, the company posted $4.17 earnings per share. The business's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.
EMCOR Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
EMCOR Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group's payout ratio is 4.42%.
Insiders Place Their Bets
In other news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director now directly owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the business'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 in the company, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $494.50.
Read Our Latest Stock Report on EME
EMCOR Group Profile
(
Free Report)
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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