800 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by Washington Capital Management Inc.

Washington Capital Management Inc. acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 800 shares of the construction company's stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its position in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after acquiring an additional 288,765 shares in the last quarter. Select Equity Group L.P. grew its position in EMCOR Group by 1.6% in the 4th quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after acquiring an additional 16,563 shares in the last quarter. Geode Capital Management LLC grew its position in EMCOR Group by 2.6% in the 4th 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 in the last quarter. Norges Bank acquired a new position in EMCOR Group in the 4th quarter valued at about $299,855,000. Finally, Northern Trust Corp grew its position in EMCOR Group by 22.9% in the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock valued at $250,046,000 after acquiring an additional 102,738 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EME. Wall Street Zen downgraded 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 for the company in a research report on Thursday, May 1st. One 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.

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the business'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 sale, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the sale, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,197 shares of company stock valued at $3,905,748. 0.83% of the stock is currently owned by corporate insiders.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $490.11 on Friday. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The company has a market cap of $21.94 billion, a PE ratio of 24.89 and a beta of 1.23. The business has a 50-day simple moving average of $424.01 and a 200-day simple moving average of $441.49.

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

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's dividend payout ratio is presently 4.42%.

EMCOR Group announced that its board has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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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