Assetmark Inc. Sells 1,886 Shares of EMCOR Group, Inc. (NYSE:EME)

Assetmark Inc. trimmed its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,237 shares of the construction company's stock after selling 1,886 shares during the quarter. Assetmark Inc.'s holdings in EMCOR Group were worth $2,305,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EME. LPL Financial LLC grew its holdings in shares of EMCOR Group by 42.5% during the fourth quarter. LPL Financial LLC now owns 45,224 shares of the construction company's stock valued at $20,527,000 after buying an additional 13,485 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of EMCOR Group by 11.1% during the fourth quarter. JPMorgan Chase & Co. now owns 270,348 shares of the construction company's stock valued at $122,711,000 after buying an additional 27,068 shares in the last quarter. Allstate Corp purchased a new position in shares of EMCOR Group during the fourth quarter valued at $606,000. Schroder Investment Management Group grew its holdings in shares of EMCOR Group by 1,055.5% during the fourth quarter. Schroder Investment Management Group now owns 12,734 shares of the construction company's stock valued at $5,823,000 after buying an additional 11,632 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of EMCOR Group by 152.6% during the fourth quarter. Wellington Management Group LLP now owns 83,294 shares of the construction company's stock valued at $37,807,000 after buying an additional 50,323 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 208,989 shares of the company's stock, valued at $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EME has been the subject of a number of research reports. Robert W. Baird initiated coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating and a $560.00 price objective for the company. Baird R W raised EMCOR Group to a "strong-buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group lifted their price objective on EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a research report on Tuesday, July 8th. William Blair initiated coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating for the company. Finally, UBS Group lifted their price objective on EMCOR Group from $570.00 to $715.00 and gave the company a "buy" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $605.33.

EMCOR Group Stock Down 0.3%

Shares of NYSE:EME traded down $2.03 on Friday, reaching $625.46. The company had a trading volume of 508,793 shares, compared to its average volume of 499,037. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $667.64. The stock has a 50-day moving average price of $524.51 and a 200 day moving average price of $456.34. The stock has a market capitalization of $28.00 billion, a P/E ratio of 27.64 and a beta of 1.24. 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 (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share for the quarter, topping analysts' consensus estimates of $5.68 by $1.04. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The company had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter in the previous year, the firm earned $5.25 earnings per share. The business's quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group's payout ratio is currently 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.