Envestnet Portfolio Solutions Inc. Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Envestnet Portfolio Solutions Inc. reduced its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 30.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,550 shares of the construction company's stock after selling 1,139 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in EMCOR Group were worth $943,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EME. Invesco Ltd. boosted its stake in EMCOR Group by 28.0% in the 4th 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 period. Select Equity Group L.P. grew its stake in 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 acquiring an additional 16,563 shares in the last quarter. Geode Capital Management LLC increased its holdings in EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock worth $463,320,000 after acquiring an additional 25,502 shares during the period. Norges Bank bought a new stake in EMCOR Group during the 4th quarter worth approximately $299,855,000. Finally, Northern Trust Corp boosted its holdings in EMCOR Group by 22.9% in the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock valued at $250,046,000 after purchasing an additional 102,738 shares during the period. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EME shares. Stifel Nicolaus dropped their target price 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. UBS Group assumed coverage on shares of EMCOR Group in a report on Friday, June 13th. They set a "buy" rating and a $570.00 price objective for the company. Finally, Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $509.60.

EMCOR Group Trading Up 0.3%

Shares of EME traded up $1.58 during mid-day trading on Wednesday, hitting $502.23. 264,912 shares of the company's stock traded hands, compared to its average volume of 452,507. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $22.48 billion, a P/E ratio of 22.19 and a beta of 1.23. The business's 50-day moving average price is $450.55 and its 200-day moving average price is $438.52. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The business's revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $4.17 earnings per share. As a group, sell-side 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 was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's dividend payout ratio is presently 4.42%.

EMCOR Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase 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 shares are undervalued.

Insider Buying and Selling

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 now directly owns 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 business's 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 transaction, the director now owns 7,094 shares of the company's stock, valued at approximately $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. 1.26% 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.