Congress Asset Management Co. Has $105.60 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Congress Asset Management Co. trimmed its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 285,689 shares of the construction company's stock after selling 24,414 shares during the quarter. Congress Asset Management Co. owned approximately 0.63% of EMCOR Group worth $105,599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Continuum Advisory LLC grew its stake in EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after buying an additional 29 shares during the last quarter. Dogwood Wealth Management LLC acquired a new position in EMCOR Group in the 4th quarter valued at about $40,000. Summit Securities Group LLC acquired a new position in EMCOR Group in the 4th quarter valued at about $45,000. Park Square Financial Group LLC acquired a new position in EMCOR Group in the 4th quarter valued at about $48,000. Finally, True Wealth Design LLC grew its stake in EMCOR Group by 24.3% in the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after buying an additional 26 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,197 shares of company stock worth $3,905,748 in the last quarter. Corporate insiders own 0.83% of the company's stock.

EMCOR Group Trading Up 1.2%

Shares of NYSE:EME traded up $6.05 on Friday, reaching $490.11. 336,164 shares of the company's stock were exchanged, compared to its average volume of 449,706. The company has a fifty day moving average of $424.01 and a 200-day moving average of $441.49. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 24.89 and a beta of 1.23.

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

EMCOR Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. EMCOR Group's payout ratio is presently 4.42%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EME. Wall Street Zen lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.