Pallas Capital Advisors LLC Acquires 856 Shares of EMCOR Group, Inc. (NYSE:EME)

Pallas Capital Advisors LLC grew its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 48.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,626 shares of the construction company's stock after acquiring an additional 856 shares during the period. Pallas Capital Advisors LLC's holdings in EMCOR Group were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Continuum Advisory LLC raised 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. Dogwood Wealth Management LLC bought a new stake in shares of EMCOR Group during the fourth quarter worth approximately $40,000. Summit Securities Group LLC bought a new stake in EMCOR Group in the fourth quarter valued at approximately $45,000. Park Square Financial Group LLC bought a new stake in EMCOR Group in the fourth quarter valued at approximately $48,000. Finally, True Wealth Design LLC increased 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 in the last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EME. Wall Street Zen downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus reduced their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $494.50.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director now directly owns 7,094 shares of the company's stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Price Performance

Shares of EMCOR Group stock traded up $3.44 on Thursday, hitting $475.33. The company had a trading volume of 380,734 shares, compared to its average volume of 450,116. The firm has a market capitalization of $21.27 billion, a P/E ratio of 24.14 and a beta of 1.23. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The stock has a 50-day moving average of $430.61 and a 200-day moving average of $440.55.

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

EMCOR Group Announces Dividend

The firm 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 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's payout ratio is 4.42%.

EMCOR Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

EMCOR Group 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.