Handelsbanken Fonder AB Raises Holdings in EMCOR Group, Inc. (NYSE:EME)

Handelsbanken Fonder AB raised its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,816 shares of the construction company's stock after purchasing an additional 1,600 shares during the period. Handelsbanken Fonder AB's holdings in EMCOR Group were worth $5,107,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Continuum Advisory LLC raised its position in EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after purchasing an additional 29 shares during the period. Dogwood Wealth Management LLC purchased a new position in shares of EMCOR Group in the fourth quarter valued at about $40,000. Summit Securities Group LLC purchased a new position in shares of EMCOR Group in the fourth quarter valued at about $45,000. Park Square Financial Group LLC purchased a new position in shares of EMCOR Group in the fourth quarter valued at about $48,000. Finally, True Wealth Design LLC increased its position in shares of EMCOR Group by 24.3% during the fourth 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 period. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE EME traded up $2.37 during midday trading on Friday, reaching $477.30. The stock had a trading volume of 400,996 shares, compared to its average volume of 450,795. The stock has a 50-day moving average of $435.60 and a 200-day moving average of $440.04. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The company has a market capitalization of $21.36 billion, a price-to-earnings ratio of 24.24 and a beta of 1.23.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share 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 during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business earned $4.17 earnings per share. EMCOR Group's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company 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. This represents a $1.00 dividend on an annualized basis 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 presently 4.42%.

EMCOR Group announced that its board has authorized a stock buyback plan on Wednesday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group assumed coverage on shares of EMCOR Group in a research note on Friday. They set a "buy" rating and a $570.00 price objective on the stock. Stifel Nicolaus dropped their price objective 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. 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 investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $509.60.

Insider Transactions at EMCOR Group

In related news, 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. The trade was a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were 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 in the company, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

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.