First Hawaiian Bank Cuts Position in EMCOR Group, Inc. (NYSE:EME)

First Hawaiian Bank lowered its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 26.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,403 shares of the construction company's stock after selling 1,547 shares during the quarter. First Hawaiian Bank's holdings in EMCOR Group were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC raised its stake in shares of EMCOR Group by 53.7% in the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after purchasing an additional 29 shares during the last quarter. Dogwood Wealth Management LLC purchased a new position in shares of EMCOR Group in the fourth quarter worth $40,000. Summit Securities Group LLC purchased a new position in shares of EMCOR Group in the fourth quarter worth $45,000. Park Square Financial Group LLC purchased a new position in shares of EMCOR Group in the fourth quarter worth $48,000. Finally, True Wealth Design LLC raised its stake in shares of EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on EME shares. Stifel Nicolaus reduced their price objective on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $494.50.

EMCOR Group Price Performance

EMCOR Group stock traded down $2.04 during mid-day trading on Monday, reaching $469.82. 330,859 shares of the stock traded hands, compared to its average volume of 455,440. The stock has a market capitalization of $21.03 billion, a PE ratio of 23.86 and a beta of 1.18. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The business's 50-day moving average is $413.49 and its 200-day moving average is $441.37.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. The business had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.17 earnings per share. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

EMCOR Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total value 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. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,197 shares of company stock worth $3,905,748 over the last quarter. 0.83% of the stock is currently owned by corporate 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.