Moran Wealth Management LLC Buys 8,707 Shares of EMCOR Group, Inc. (NYSE:EME)

Moran Wealth Management LLC raised its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 72.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,655 shares of the construction company's stock after buying an additional 8,707 shares during the quarter. Moran Wealth Management LLC's holdings in EMCOR Group were worth $7,635,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC lifted 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 buying an additional 29 shares in the last quarter. Dogwood Wealth Management LLC bought a new position in EMCOR Group in the fourth quarter valued at approximately $40,000. Summit Securities Group LLC bought a new position in EMCOR Group in the fourth quarter valued at approximately $45,000. Park Square Financial Group LLC bought a new position in EMCOR Group in the fourth quarter valued at approximately $48,000. Finally, True Wealth Design LLC lifted its position in shares of EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on EME. UBS Group began coverage on shares of EMCOR Group in a research report on Friday, June 13th. They issued a "buy" rating and a $570.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, EMCOR Group has an average rating of "Moderate Buy" and an average price target of $509.60.

Insider Buying and Selling at EMCOR Group

In other news, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 208,989 shares of the company's stock, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the sale, the director now directly owns 7,094 shares of the company's stock, 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. Corporate insiders own 1.26% of the company's stock.

EMCOR Group Price Performance

Shares of EME opened at $501.30 on Wednesday. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 22.15 and a beta of 1.23. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The company's fifty day simple moving average is $450.55 and its 200 day simple moving average is $438.52. 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 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. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.17 earnings per share. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were issued 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 is currently 4.42%.

EMCOR Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

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.

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