Ausbil Investment Management Ltd Reduces Holdings in EMCOR Group, Inc. (NYSE:EME)

Ausbil Investment Management Ltd cut its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 48.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,409 shares of the construction company's stock after selling 3,192 shares during the quarter. Ausbil Investment Management Ltd's holdings in EMCOR Group were worth $1,260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EME. Redwood Investment Management LLC acquired a new position in shares of EMCOR Group in the fourth quarter valued at approximately $1,417,000. Janney Montgomery Scott LLC grew its position in EMCOR Group by 20.8% during the first quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock worth $7,317,000 after buying an additional 3,407 shares during the period. Fifth Third Bancorp boosted its position in EMCOR Group by 17.5% during the first quarter. Fifth Third Bancorp now owns 844 shares of the construction company's stock worth $312,000 after purchasing an additional 126 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of EMCOR Group in the 4th quarter worth about $1,192,000. Finally, CX Institutional purchased a new position in shares of EMCOR Group during the 1st quarter worth approximately $95,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on EME shares. Stifel Nicolaus lowered 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. 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 on the stock. Finally, Wall Street Zen downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $509.60.

Insider Activity

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the firm'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 sale, the chief executive officer now owns 208,989 shares of the company's stock, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robin A. Walker-Lee sold 947 shares of the business's 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 transaction, the director now directly owns 7,094 shares in the company, valued at $2,928,616.02. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Price Performance

EME opened at $485.19 on Monday. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 21.44 and a beta of 1.23. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $446.14 and a 200 day simple moving average of $438.18.

EMCOR Group (NYSE:EME - Get Free Report) last issued 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 37.12% and a net margin of 7.00%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business earned $4.17 EPS. The firm's revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is currently 4.42%.

EMCOR Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

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.

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