Formidable Asset Management LLC Sells 566 Shares of EMCOR Group, Inc. (NYSE:EME)

Formidable Asset Management LLC decreased its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 33.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,141 shares of the construction company's stock after selling 566 shares during the quarter. Formidable Asset Management LLC's holdings in EMCOR Group were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. 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 valued at $598,465,000 after buying an additional 288,765 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of EMCOR Group by 1.6% during the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after buying an additional 16,563 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of EMCOR Group by 2.6% during 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 purchased a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $299,855,000. Finally, Northern Trust Corp grew its holdings in shares of EMCOR Group by 22.9% during the fourth quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock valued at $250,046,000 after buying an additional 102,738 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. This trade represents a 4.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the transaction, the chief executive officer now directly owns 208,989 shares of the company's stock, 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. Over the last three months, insiders have sold 9,197 shares of company stock valued at $3,905,748. 0.83% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EME shares. Wall Street Zen cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus lowered 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 report on Thursday, May 1st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat, EMCOR Group currently has a consensus rating of "Moderate Buy" and an average price target of $494.50.

EMCOR Group Stock Performance

Shares of NYSE EME traded down $6.52 during midday trading on Wednesday, hitting $469.07. 280,821 shares of the company's stock traded hands, compared to its average volume of 470,244. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The firm has a fifty day moving average of $411.19 and a 200 day moving average of $442.82. The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 23.82 and a beta of 1.18.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company's revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $4.17 EPS. On average, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

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

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. EMCOR Group's payout ratio is 4.42%.

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.