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New York State Teachers Retirement System Cuts Position in EMCOR Group, Inc. (NYSE:EME)

EMCOR Group logo with Construction background

New York State Teachers Retirement System cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,382 shares of the construction company's stock after selling 2,844 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of EMCOR Group worth $21,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. grew its position in shares of EMCOR Group by 28.0% during 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 in the last quarter. Select Equity Group L.P. grew its position in shares of EMCOR Group by 1.6% during the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock worth $482,951,000 after buying an additional 16,563 shares in the last quarter. Geode Capital Management LLC grew its position in shares of EMCOR Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock worth $463,320,000 after buying an additional 25,502 shares in the last quarter. Norges Bank acquired a new position in shares of EMCOR Group during the fourth quarter worth about $299,855,000. Finally, Northern Trust Corp grew its position in shares of EMCOR Group by 22.9% during the fourth quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after buying an additional 102,738 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 947 shares of the company'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 transaction of $390,950.01. Following the completion of the sale, the director owned 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was 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 of the company's stock, 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. 0.83% of the stock is owned by corporate insiders.

EMCOR Group Stock Performance

Shares of EME stock traded up $4.84 during trading hours on Friday, hitting $546.64. The stock had a trading volume of 302,472 shares, compared to its average volume of 450,502. The firm has a market capitalization of $24.47 billion, a PE ratio of 24.16 and a beta of 1.24. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $550.18. The stock's 50 day moving average is $474.05 and its 200 day moving average is $441.49. 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 quarterly earnings data 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 during 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 company's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.17 earnings per share. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. UBS Group initiated coverage on EMCOR Group in a report on Friday, June 13th. They issued a "buy" rating and a $570.00 price target for the company. TD Securities initiated coverage on EMCOR Group in a report on Friday, June 27th. They issued a "buy" rating for the company. Baird R W raised EMCOR Group to a "strong-buy" rating in a report on Friday, June 27th. Finally, Hovde Group raised EMCOR Group to a "hold" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $518.00.

View Our Latest Analysis on EME

About EMCOR Group

(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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Institutional Ownership by Quarter for EMCOR Group (NYSE:EME)

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