Pekin Hardy Strauss Inc. Reduces Stock Position in EMCOR Group, Inc. (NYSE:EME)

Pekin Hardy Strauss Inc. lowered its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 49.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 625 shares of the construction company's stock after selling 600 shares during the quarter. Pekin Hardy Strauss Inc.'s holdings in EMCOR Group were worth $231,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC grew its position in shares of EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after buying an additional 29 shares during the last quarter. Dogwood Wealth Management LLC acquired a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $40,000. Summit Securities Group LLC acquired a new position in EMCOR Group in the 4th quarter valued at approximately $45,000. Park Square Financial Group LLC acquired a new position in EMCOR Group in the 4th quarter valued at approximately $48,000. Finally, True Wealth Design LLC grew its position in 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 acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction 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 transaction, the director directly owned 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief executive officer directly owned 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company's stock.

EMCOR Group Trading Down 1.6%

Shares of EME opened at $542.40 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.14 and a current ratio of 1.16. The firm has a market cap of $24.28 billion, a P/E ratio of 23.97 and a beta of 1.24. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $553.97. The business has a 50-day moving average of $479.42 and a 200 day moving average of $442.62.

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 the consensus estimate of $4.57 by $0.84. The company had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.17 earnings per share. As a group, research analysts forecast 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 will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, July 15th. EMCOR Group's dividend payout ratio is currently 4.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EME. The Goldman Sachs Group upped their price objective on shares of EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a report on Tuesday. Hovde Group raised shares of EMCOR Group to a "hold" rating in a report on Friday, June 27th. UBS Group started coverage on shares of EMCOR Group in a research report on Friday, June 13th. They set a "buy" rating and a $570.00 target price for the company. Jefferies Financial Group began coverage on shares of EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating for the company. Finally, Robert W. Baird assumed coverage on shares of EMCOR Group in a research report on Friday, June 27th. They issued an "outperform" rating and a $560.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $516.33.

About EMCOR Group

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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