EMCOR Group, Inc. (NYSE:EME) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 81.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 718 shares of the construction company's stock after selling 3,237 shares during the period. Highland Capital Management LLC's holdings in EMCOR Group were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EME. Invesco Ltd. grew its holdings in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after acquiring an additional 288,765 shares in the last quarter. Select Equity Group L.P. grew its position in shares of EMCOR Group by 1.6% during the 4th quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after purchasing an additional 16,563 shares in the last quarter. Geode Capital Management LLC increased its stake in EMCOR Group by 2.6% in 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 last quarter. Norges Bank purchased a new stake in EMCOR Group in the fourth quarter valued at approximately $299,855,000. Finally, Northern Trust Corp lifted its holdings in shares of EMCOR Group by 22.9% during the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after acquiring an additional 102,738 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Performance

EMCOR Group stock traded up $4.84 during mid-day trading on Thursday, hitting $546.64. The company had a trading volume of 302,472 shares, compared to its average volume of 449,588. The company has a market capitalization of $24.47 billion, a price-to-earnings ratio of 24.16 and a beta of 1.24. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $550.40. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company's fifty day moving average is $468.42 and its 200-day moving average is $440.73.

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 business had revenue of $3.87 billion during 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 business's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.17 EPS. Equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.18%. EMCOR Group's dividend payout ratio is presently 4.42%.

Insider Buying and Selling at EMCOR Group

In other news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer owned 208,989 shares of the company's stock, valued at $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the sale, the director owned 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 disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus lowered 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. UBS Group began coverage on shares of EMCOR Group in a report on Friday, June 13th. They issued a "buy" rating and a $570.00 price objective on the stock. TD Securities began coverage on EMCOR Group in a research report on Friday, June 27th. They issued a "buy" rating for the company. William Blair initiated coverage on EMCOR Group in a report on Friday, June 27th. They issued an "outperform" rating for the company. Finally, Robert W. Baird initiated coverage on EMCOR Group in a report on Friday, June 27th. They issued an "outperform" rating and a $560.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $518.00.

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.