Allspring Global Investments Holdings LLC Raises Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Allspring Global Investments Holdings LLC raised its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 457,661 shares of the construction company's stock after purchasing an additional 28,038 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.01% of EMCOR Group worth $171,852,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EME. Private Advisor Group LLC grew its stake in shares of EMCOR Group by 198.7% during the 4th quarter. Private Advisor Group LLC now owns 2,951 shares of the construction company's stock valued at $1,340,000 after purchasing an additional 1,963 shares during the period. IFP Advisors Inc grew its stake in shares of EMCOR Group by 9.7% during the 4th quarter. IFP Advisors Inc now owns 1,669 shares of the construction company's stock valued at $758,000 after purchasing an additional 147 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of EMCOR Group by 10.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 10,093 shares of the construction company's stock valued at $4,581,000 after purchasing an additional 935 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of EMCOR Group during the 4th quarter valued at about $23,941,000. Finally, QRG Capital Management Inc. grew its stake in shares of EMCOR Group by 29.9% during the 4th quarter. QRG Capital Management Inc. now owns 3,829 shares of the construction company's stock valued at $1,738,000 after purchasing an additional 882 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EME shares. Robert W. Baird started coverage on EMCOR Group in a research note on Friday. They set an "outperform" rating and a $560.00 price objective for the company. Baird R W upgraded EMCOR Group to a "strong-buy" rating in a research note on Friday. Jefferies Financial Group started coverage on EMCOR Group in a research note on Friday. They set a "buy" rating for the company. Hovde Group upgraded EMCOR Group to a "hold" rating in a research note on Friday. Finally, UBS Group started coverage on EMCOR Group in a research note on Friday, June 13th. They set a "buy" rating and a $570.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EMCOR Group has a consensus rating of "Moderate Buy" and an average target price of $518.00.

Insider Buying and Selling

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 value of $3,052,210.00. Following the transaction, the chief executive officer now directly owns 208,989 shares of the company's stock, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the transaction, the director now directly owns 7,094 shares in the company, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

EMCOR Group Price Performance

NYSE EME traded up $19.91 during trading hours on Friday, reaching $530.90. The company's stock had a trading volume of 681,139 shares, compared to its average volume of 450,682. The firm's 50-day moving average price is $458.66 and its 200-day moving average price is $439.29. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a market capitalization of $23.76 billion, a price-to-earnings ratio of 23.46 and a beta of 1.23.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings results 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 37.12% and a net margin of 7.00%. The company had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the firm earned $4.17 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. EMCOR Group's dividend payout ratio is presently 4.42%.

EMCOR Group 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.