Meeder Asset Management Inc. Lowers Stake in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Meeder Asset Management Inc. reduced its stake in EMCOR Group, Inc. by 60.3% in the first quarter, owning 7,410 shares after selling 11,267 shares, with holdings worth approximately $2.74 million.
• EMCOR Group reported a strong quarterly performance, with $5.41 earnings per share, exceeding analysts' expectations and showing a 12.7% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25, which will be paid to shareholders on July 31, representing an annualized yield of 0.16% and a payout ratio of 4.42%.

Meeder Asset Management Inc. trimmed its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 60.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,410 shares of the construction company's stock after selling 11,267 shares during the quarter. Meeder Asset Management Inc.'s holdings in EMCOR Group were worth $2,739,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its position in EMCOR Group by 24.3% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after purchasing an additional 26 shares in the last quarter. GeoWealth Management LLC lifted its stake in EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after purchasing an additional 28 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of EMCOR Group by 53.7% during 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. Alps Advisors Inc. increased its holdings in shares of EMCOR Group by 3.4% during the first quarter. Alps Advisors Inc. now owns 908 shares of the construction company's stock worth $336,000 after buying an additional 30 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its stake in shares of EMCOR Group by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 804 shares of the construction company's stock valued at $359,000 after acquiring an additional 32 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EME shares. Baird R W upgraded shares of EMCOR Group to a "strong-buy" rating in a report on Friday, June 27th. UBS Group increased their price target on EMCOR Group from $570.00 to $715.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Stifel Nicolaus upped their target price on EMCOR Group from $503.00 to $597.00 and gave the company a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group initiated coverage on shares of EMCOR Group in a report on Friday, June 27th. They set a "buy" rating for the company. Finally, Hovde Group raised shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $581.40.

EMCOR Group Stock Up 0.2%

EME traded up $1.54 during midday trading on Friday, reaching $629.03. The company's stock had a trading volume of 311,159 shares, compared to its average volume of 497,632. The stock's 50-day moving average is $524.51 and its 200-day moving average is $456.34. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $667.64. The firm has a market capitalization of $28.16 billion, a price-to-earnings ratio of 27.80 and a beta of 1.24. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, beating the consensus estimate of $5.68 by $1.04. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the business posted $5.25 EPS. The company's revenue was up 17.4% compared to the same quarter last year. As a group, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, July 15th. EMCOR Group's dividend payout ratio is presently 4.42%.

Insider Transactions at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.