Assenagon Asset Management S.A. Increases Holdings in EMCOR Group, Inc. (NYSE:EME)

Assenagon Asset Management S.A. raised its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 203.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 185,512 shares of the construction company's stock after purchasing an additional 124,295 shares during the quarter. Assenagon Asset Management S.A. owned 0.41% of EMCOR Group worth $68,571,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. acquired a new stake in EMCOR Group during the fourth quarter worth about $211,000. Savant Capital LLC grew its holdings in EMCOR Group by 1.0% during the fourth quarter. Savant Capital LLC now owns 6,205 shares of the construction company's stock worth $2,817,000 after acquiring an additional 63 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in EMCOR Group by 21.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company's stock worth $196,500,000 after acquiring an additional 75,578 shares during the period. Van ECK Associates Corp grew its holdings in EMCOR Group by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 9,903 shares of the construction company's stock worth $4,495,000 after acquiring an additional 502 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in EMCOR Group by 16.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 19,738 shares of the construction company's stock worth $9,067,000 after acquiring an additional 2,770 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Trading Up 0.7%

NYSE:EME traded up $3.44 during trading hours on Thursday, reaching $475.33. 380,734 shares of the company were exchanged, compared to its average volume of 450,116. The firm has a market cap of $21.27 billion, a PE ratio of 24.14 and a beta of 1.23. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The stock's 50-day moving average is $430.61 and its 200-day moving average is $440.55.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, topping the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.17 EPS. As a group, research analysts anticipate 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 program 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 stock through open market purchases. Stock buyback programs are typically a sign 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 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's payout ratio is 4.42%.

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 transaction of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now owns 7,094 shares of the company's stock, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EME has been the topic of several analyst reports. 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 report on Thursday, May 1st. Wall Street Zen lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently 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.