CCM Investment Advisers LLC increased its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,194 shares of the construction company's stock after purchasing an additional 1,504 shares during the quarter. CCM Investment Advisers LLC owned approximately 0.07% of EMCOR Group worth $12,270,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Petra Financial Advisors Inc. grew its holdings in EMCOR Group by 1.4% in the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock valued at $789,000 after buying an additional 24 shares in the last quarter. True Wealth Design LLC grew 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 valued at $60,000 after buying an additional 26 shares in the last quarter. GeoWealth Management LLC grew its holdings in EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after buying an additional 28 shares in the last quarter. Continuum Advisory LLC grew its holdings 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 in the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in EMCOR Group by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 804 shares of the construction company's stock valued at $359,000 after buying an additional 32 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
EMCOR Group Stock Performance
Shares of EMCOR Group stock traded up $2.37 during trading hours on Friday, hitting $477.30. The company's stock had a trading volume of 400,996 shares, compared to its average volume of 450,795. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The firm has a fifty day moving average of $435.60 and a 200-day moving average of $440.04. The stock has a market cap 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 announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business 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 company posted $4.17 EPS. The company's quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.
EMCOR Group Dividend Announcement
The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.
EMCOR Group declared that its board has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. UBS Group assumed coverage on EMCOR Group in a report on Friday. They issued a "buy" rating and a $570.00 target price for the company. Finally, Stifel Nicolaus dropped 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 five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $509.60.
Check Out Our Latest Analysis on EME
Insider Activity
In related news, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the transaction, the chief executive officer now owns 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction dated Thursday, May 1st. The stock was 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 in the company, valued at approximately $2,928,616.02. The trade was a 11.78% 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 Company Profile
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Free Report)
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.
Further Reading
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