EMCOR Group, Inc. (NYSE:EME) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 37.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,938 shares of the construction company's stock after buying an additional 799 shares during the period. Merit Financial Group LLC's holdings in EMCOR Group were worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Continuum Advisory LLC grew its stake in EMCOR Group by 53.7% in the fourth 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 last quarter. Dogwood Wealth Management LLC purchased a new position in EMCOR Group in the fourth quarter valued at about $40,000. Summit Securities Group LLC purchased a new position in EMCOR Group in the fourth quarter valued at about $45,000. Park Square Financial Group LLC purchased a new position in EMCOR Group in the fourth quarter valued at about $48,000. Finally, True Wealth Design LLC grew 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 purchasing 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 dated 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 now owns 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now directly owns 7,094 shares of the company's stock, valued at $2,928,616.02. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,197 shares of company stock valued at $3,905,748 over the last quarter. 1.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stifel Nicolaus cut their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $494.50.

EMCOR Group Trading Up 1.2%

Shares of EME stock traded up $5.76 during trading hours on Wednesday, reaching $471.69. 329,940 shares of the company's stock were exchanged, compared to its average volume of 450,080. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The stock has a market cap of $21.11 billion, a PE ratio of 23.96 and a beta of 1.23. The stock's fifty day moving average price is $430.61 and its two-hundred day moving average price is $440.55.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the firm earned $4.17 earnings per share. The company's revenue was up 12.7% on a year-over-year basis. On average, equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its board has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is 4.42%.

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.