EMCOR Group, Inc. (NYSE:EME) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,914 shares of the construction company's stock after purchasing an additional 5,579 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of EMCOR Group worth $14,384,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EME. Stratos Wealth Partners LTD. acquired a new stake in shares of EMCOR Group during the fourth quarter valued at about $211,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of EMCOR Group by 1.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 104,201 shares of the construction company's stock valued at $47,297,000 after acquiring an additional 1,447 shares in the last quarter. Vest Financial LLC grew its stake in shares of EMCOR Group by 52.6% during the fourth quarter. Vest Financial LLC now owns 5,264 shares of the construction company's stock valued at $2,389,000 after acquiring an additional 1,815 shares in the last quarter. Mezzasalma Advisors LLC grew its stake in shares of EMCOR Group by 3.3% during the fourth quarter. Mezzasalma Advisors LLC now owns 11,458 shares of the construction company's stock valued at $5,201,000 after acquiring an additional 361 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of EMCOR Group by 119.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,090 shares of the construction company's stock valued at $949,000 after acquiring an additional 1,139 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Trading Up 1.2%

EME opened at $490.11 on Friday. The business's 50 day moving average is $424.01 and its 200-day moving average is $441.49. The stock has a market cap of $21.94 billion, a PE ratio of 24.89 and a beta of 1.23. 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 posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating 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 business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business earned $4.17 earnings per share. The business'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 year.

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

EMCOR Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's payout ratio is 4.42%.

Insiders Place Their Bets

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the sale, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction on Thursday, May 1st. The shares were 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 directly owns 7,094 shares of the company's stock, 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. In the last three months, insiders have sold 9,197 shares of company stock worth $3,905,748. Corporate insiders own 0.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EME shares. Wall Street Zen downgraded 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 EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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