Hennessy Advisors Inc. Sells 2,900 Shares of EMCOR Group, Inc. (NYSE:EME)

Hennessy Advisors Inc. lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,600 shares of the construction company's stock after selling 2,900 shares during the quarter. Hennessy Advisors Inc. owned about 0.06% of EMCOR Group worth $9,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Petra Financial Advisors Inc. boosted its holdings in shares of EMCOR Group by 1.4% during the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock valued at $789,000 after acquiring an additional 24 shares during the last quarter. True Wealth Design LLC boosted its holdings 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 buying an additional 26 shares during the last quarter. GeoWealth Management LLC boosted its holdings in shares of EMCOR Group by 12.4% in the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock worth $115,000 after buying an additional 28 shares during the last quarter. Continuum Advisory LLC boosted its holdings 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 buying an additional 29 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of EMCOR Group by 4.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 804 shares of the construction company's stock worth $359,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity

In other 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 transaction of $390,950.01. Following the sale, the director now owns 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction 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 now owns 208,989 shares in the company, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EME shares. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group started coverage on shares of EMCOR Group in a report on Friday. They issued a "buy" rating and a $570.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, EMCOR Group has a consensus rating of "Moderate Buy" and a consensus target price of $509.60.

EMCOR Group Stock Up 0.5%

NYSE:EME traded up $2.37 during trading hours on Friday, hitting $477.30. 400,996 shares of the stock traded hands, compared to its average volume of 450,795. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 24.24 and a beta of 1.23. The stock has a 50 day moving average price of $435.60 and a 200 day moving average price of $440.04.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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 for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.17 earnings per share. Equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Dividend Announcement

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

EMCOR Group 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.