Bank of New York Mellon Corp Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Bank of New York Mellon Corp reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 3.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 382,807 shares of the construction company's stock after selling 13,505 shares during the period. Bank of New York Mellon Corp owned about 0.85% of EMCOR Group worth $141,497,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EME. Petra Financial Advisors Inc. grew its holdings in shares of EMCOR Group by 1.4% in the fourth quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock valued at $789,000 after acquiring an additional 24 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after acquiring an additional 26 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of EMCOR Group by 12.4% in the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after acquiring an additional 28 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of EMCOR Group by 53.7% in the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after acquiring an additional 29 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of EMCOR Group by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 804 shares of the construction company's stock valued at $359,000 after acquiring an additional 32 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE:EME traded up $6.92 during trading on Friday, hitting $554.51. 215,576 shares of the company were exchanged, compared to its average volume of 451,455. The company has a market cap of $24.82 billion, a PE ratio of 24.50 and a beta of 1.24. The stock has a 50 day moving average of $487.57 and a 200 day moving average of $444.42. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $556.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14.

EMCOR Group (NYSE:EME - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.17 earnings per share. As a group, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. EMCOR Group's dividend payout ratio is currently 4.42%.

Insider Buying and Selling at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction 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 owned 7,094 shares in the company, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on EMCOR Group in a report on Friday, June 27th. They issued a "buy" rating for the company. Hovde Group upgraded EMCOR Group to a "hold" rating in a research note on Friday, June 27th. Robert W. Baird started coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 price objective on the stock. The Goldman Sachs Group upped their price objective on EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a research note on Tuesday. Finally, TD Securities started coverage on EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, EMCOR Group has an average rating of "Moderate Buy" and a consensus price target of $532.00.

About EMCOR Group

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.