12,320 Shares in EMCOR Group, Inc. (NYSE:EME) Acquired by Castleark Management LLC

Castleark Management LLC acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,320 shares of the construction company's stock, valued at approximately $5,592,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Continuum Advisory LLC lifted its position in shares of EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after buying an additional 29 shares during the last quarter. Summit Securities Group LLC acquired a new position in EMCOR Group in the 4th quarter worth about $45,000. SJS Investment Consulting Inc. increased its holdings in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after purchasing an additional 94 shares in the last quarter. True Wealth Design LLC increased its holdings in EMCOR Group by 24.3% in the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after purchasing an additional 26 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after purchasing an additional 25 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robin A. Walker-Lee sold 947 shares of the firm'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 transaction of $390,950.01. Following the completion of the sale, the director now owns 7,094 shares of the company's stock, valued at $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 directly owns 208,989 shares of the company's stock, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,197 shares of company stock valued at $3,905,748. Company insiders own 1.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EME shares. Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus lowered their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $494.50.

EMCOR Group Stock Performance

Shares of EME stock traded up $5.05 on Friday, hitting $463.36. The company had a trading volume of 397,618 shares, compared to its average volume of 471,673. The firm has a market cap of $20.74 billion, a P/E ratio of 23.53 and a beta of 1.18. The stock's 50-day moving average is $406.92 and its two-hundred day moving average is $443.19. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.17 earnings per share. Equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its board has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. EMCOR Group's payout ratio is 4.42%.

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.