Highland Capital Management LLC Decreases Stake in EMCOR Group, Inc. (NYSE:EME)

Highland Capital Management LLC decreased its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 81.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EME. Continuum Advisory LLC lifted its stake in shares of EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after purchasing an additional 29 shares during the period. Dogwood Wealth Management LLC bought a new stake in shares of EMCOR Group during the 4th quarter valued at $40,000. Summit Securities Group LLC bought a new stake in shares of EMCOR Group during the 4th quarter valued at $45,000. Park Square Financial Group LLC bought a new stake in shares of EMCOR Group during the 4th quarter valued at $48,000. Finally, True Wealth Design LLC grew its position in shares of EMCOR Group by 24.3% in the 4th 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 period. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Down 2.5%

NYSE EME traded down $13.44 on Tuesday, reaching $521.45. 107,269 shares of the stock traded hands, compared to its average volume of 449,263. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 23.04 and a beta of 1.23. The company has a fifty day moving average price of $462.11 and a 200-day moving average price of $439.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.14 and a current ratio of 1.16.

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 for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the company posted $4.17 earnings per share. The firm's quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.19%. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.

Insiders Place Their Bets

In related news, CEO Anthony Guzzi sold 7,000 shares of the company'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 directly owned 208,989 shares in the company, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 transaction, the director owned 7,094 shares of the company's stock, 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. Company insiders own 1.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EME. Hovde Group upgraded EMCOR Group to a "hold" rating in a report on Friday. Baird R W upgraded shares of EMCOR Group to a "strong-buy" rating in a research note on Friday. Robert W. Baird began coverage on shares of EMCOR Group in a research note on Friday. They issued an "outperform" rating and a $560.00 target price on the stock. William Blair began coverage on EMCOR Group in a report on Friday. They issued an "outperform" rating for the company. Finally, Jefferies Financial Group started coverage on EMCOR Group in a report on Friday. They set a "buy" rating on the stock. One 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $518.00.

About EMCOR Group

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.