EMCOR Group, Inc. (NYSE:EME) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,338 shares of the construction company's stock after selling 3,215 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.10% of EMCOR Group worth $16,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in EMCOR Group in the 4th quarter worth approximately $299,855,000. GAMMA Investing LLC increased its stake in EMCOR Group by 49,775.5% during the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock valued at $138,266,000 after purchasing an additional 373,316 shares in the last quarter. Invesco Ltd. raised 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 worth $598,465,000 after buying an additional 288,765 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of EMCOR Group by 94.2% during the fourth quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock worth $139,349,000 after buying an additional 148,915 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of EMCOR Group by 35.2% during the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after buying an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

EME stock traded up $19.91 during trading on Friday, hitting $530.90. 681,139 shares of the company traded hands, compared to its average volume of 452,567. 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 $23.76 billion, a PE ratio of 23.46 and a beta of 1.23. The stock's 50-day simple moving average is $455.61 and its 200 day simple moving average is $439.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14.

EMCOR Group (NYSE:EME - Get Free Report) last posted its earnings results 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 net margin of 7.00% and a return on equity of 37.12%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the firm earned $4.17 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

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

Analyst Ratings Changes

EME has been the subject of a number of research reports. Robert W. Baird initiated coverage on EMCOR Group in a research report on Friday. They set an "outperform" rating and a $560.00 price target for the company. UBS Group assumed coverage on EMCOR Group in a report on Friday, June 13th. They set a "buy" rating and a $570.00 target price for the company. Jefferies Financial Group began coverage on EMCOR Group in a research report on Friday. They issued a "buy" rating on the stock. Stifel Nicolaus reduced their price target 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. Finally, William Blair began coverage on shares of EMCOR Group in a research note on Friday. They set an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EMCOR Group has an average rating of "Moderate Buy" and a consensus price target of $518.00.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction that occurred on 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 directly owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company's stock.

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.