Navellier & Associates Inc. Sells 21,311 Shares of EMCOR Group, Inc. (NYSE:EME)

Navellier & Associates Inc. cut its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 37.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,765 shares of the construction company's stock after selling 21,311 shares during the period. EMCOR Group makes up about 1.9% of Navellier & Associates Inc.'s portfolio, making the stock its 7th biggest holding. Navellier & Associates Inc. owned about 0.08% of EMCOR Group worth $13,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its holdings in EMCOR Group by 11.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,466 shares of the construction company's stock worth $1,281,000 after purchasing an additional 361 shares during the period. Advisor OS LLC acquired a new position in shares of EMCOR Group in the 1st quarter valued at about $210,000. Dorsey Wright & Associates raised its holdings in EMCOR Group by 9.1% in the 1st quarter. Dorsey Wright & Associates now owns 11,797 shares of the construction company's stock worth $4,361,000 after purchasing an additional 984 shares during the period. Wedbush Securities Inc. raised its holdings in shares of EMCOR Group by 2.4% during the first quarter. Wedbush Securities Inc. now owns 1,600 shares of the construction company's stock valued at $591,000 after acquiring an additional 38 shares during the last quarter. Finally, Mount Lucas Management LP raised its holdings in shares of EMCOR Group by 103.1% during the first quarter. Mount Lucas Management LP now owns 2,326 shares of the construction company's stock valued at $860,000 after acquiring an additional 1,181 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Up 9.7%

Shares of NYSE EME traded up $55.87 during trading on Friday, hitting $634.67. The stock had a trading volume of 658,109 shares, compared to its average volume of 348,370. The company has a market capitalization of $28.41 billion, a PE ratio of 28.05 and a beta of 1.24. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $636.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a fifty day moving average of $511.12 and a two-hundred day moving average of $451.86.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 7.00% and a return on equity of 37.12%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.17 earnings per share. As a group, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. EMCOR Group's payout ratio is presently 4.42%.

Wall Street Analyst Weigh In

A number of research firms have commented on EME. The Goldman Sachs Group upped their price target on EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a research note on Tuesday, July 8th. UBS Group boosted their price target on EMCOR Group from $570.00 to $715.00 and gave the company a "buy" rating in a report on Friday. William Blair assumed coverage on shares of EMCOR Group in a research report on Friday, June 27th. They issued an "outperform" rating for the company. TD Securities initiated coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating on the stock. Finally, Jefferies Financial Group started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $556.17.

Insider Activity

In other news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group 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 directly owned 208,989 shares of the company's stock, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director directly owned 7,094 shares in the company, valued at $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

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.