Royal Bank of Canada Buys 26,305 Shares of EMCOR Group, Inc. (NYSE:EME)

Royal Bank of Canada lifted its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,775 shares of the construction company's stock after acquiring an additional 26,305 shares during the quarter. Royal Bank of Canada owned approximately 0.68% of EMCOR Group worth $141,061,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Invesco Ltd. grew its holdings in shares of EMCOR Group by 28.0% during the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after purchasing an additional 288,765 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after buying an additional 25,502 shares during the last quarter. Norges Bank acquired a new position in EMCOR Group during the 4th quarter worth about $299,855,000. Northern Trust Corp grew its holdings in EMCOR Group by 22.9% during the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after acquiring an additional 102,738 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after acquiring an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction that occurred on 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 directly owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the business's 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 transaction, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,197 shares of company stock valued at $3,905,748. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Stock Performance

EMCOR Group stock traded down $5.36 during trading hours on Thursday, reaching $458.41. 455,714 shares of the company's stock traded hands, compared to its average volume of 471,759. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 23.28 and a beta of 1.18. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The firm's 50 day moving average is $405.38 and its 200-day moving average is $443.69.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the business posted $4.17 earnings per share. EMCOR Group's revenue was up 12.7% compared to the same quarter last year. Analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its board has approved a share buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding 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 usually an indication that the company's board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.