Institute for Wealth Management LLC. bought a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,028 shares of the construction company's stock, valued at approximately $380,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Continuum Advisory LLC boosted its holdings in EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after acquiring an additional 29 shares during the period. Dogwood Wealth Management LLC bought a new position in shares of EMCOR Group in the 4th quarter worth $40,000. Summit Securities Group LLC bought a new position in shares of EMCOR Group in the 4th quarter worth $45,000. Park Square Financial Group LLC acquired a new position in EMCOR Group during the 4th quarter valued at about $48,000. Finally, True Wealth Design LLC raised its stake in EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.
Insider Buying and Selling
In related news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction that occurred 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 transaction, the chief executive officer now owns 208,989 shares in the company, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group 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 transaction, the director now owns 7,094 shares in the company, valued at approximately $2,928,616.02. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on EME shares. Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. 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 on the stock. Finally, Stifel Nicolaus lowered their price target on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, EMCOR Group has an average rating of "Moderate Buy" and a consensus target price of $509.60.
Check Out Our Latest Research Report on EME
EMCOR Group Price Performance
Shares of NYSE EME traded up $10.28 during midday trading on Monday, hitting $495.31. The stock had a trading volume of 389,212 shares, compared to its average volume of 453,796. The company has a market capitalization of $22.17 billion, a PE ratio of 21.89 and a beta of 1.23. The stock has a 50 day simple moving average of $448.32 and a 200-day simple moving average of $438.08. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08.
EMCOR Group (NYSE:EME - Get Free Report) last released 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. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business's quarterly revenue 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. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.
EMCOR Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.
EMCOR Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.
EMCOR Group Company Profile
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Free Report)
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.
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