KLP Kapitalforvaltning AS Sells 600 Shares of EMCOR Group, Inc. (NYSE:EME)

KLP Kapitalforvaltning AS trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,000 shares of the construction company's stock after selling 600 shares during the period. KLP Kapitalforvaltning AS owned 0.11% of EMCOR Group worth $17,742,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EME. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in EMCOR Group by 13.4% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 48,976 shares of the construction company's stock worth $18,103,000 after acquiring an additional 5,780 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in EMCOR Group by 32.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 8,442 shares of the construction company's stock worth $3,120,000 after buying an additional 2,065 shares in the last quarter. PFG Advisors boosted its holdings in shares of EMCOR Group by 527.4% in the 1st quarter. PFG Advisors now owns 9,994 shares of the construction company's stock valued at $3,694,000 after purchasing an additional 8,401 shares in the last quarter. Ignite Planners LLC boosted its holdings in shares of EMCOR Group by 9.7% in the 1st quarter. Ignite Planners LLC now owns 834 shares of the construction company's stock valued at $308,000 after purchasing an additional 74 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of EMCOR Group in the 1st quarter valued at $30,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director owned 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company's stock.

EMCOR Group Stock Up 9.7%

Shares of EME stock traded up $55.87 during trading hours on Friday, hitting $634.67. 658,109 shares of the company's stock traded hands, compared to its average volume of 348,370. The stock's fifty day simple moving average is $511.12 and its two-hundred day simple moving average is $451.70. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $636.38. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 28.05 and a beta of 1.24. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08.

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, topping analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the business earned $4.17 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Tuesday, July 15th. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.

Analysts Set New Price Targets

A number of brokerages have recently commented on EME. Jefferies Financial Group began coverage on EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. TD Securities initiated coverage on EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating for the company. William Blair initiated coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating for the company. The Goldman Sachs Group raised their target price on EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a research note on Tuesday, July 8th. Finally, UBS Group lifted their price target on EMCOR Group from $570.00 to $715.00 and gave the company a "buy" rating in a research note on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $581.40.

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.