QRG Capital Management Inc. trimmed its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,837 shares of the construction company's stock after selling 992 shares during the period. QRG Capital Management Inc.'s holdings in EMCOR Group were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Sowell Financial Services LLC purchased a new position in shares of EMCOR Group in the first quarter valued at about $981,000. Janney Montgomery Scott LLC lifted its position in shares of EMCOR Group by 20.8% in the first quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock valued at $7,317,000 after acquiring an additional 3,407 shares in the last quarter. Brown Miller Wealth Management LLC purchased a new position in shares of EMCOR Group in the first quarter valued at about $245,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of EMCOR Group by 628.0% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 23,974 shares of the construction company's stock valued at $8,862,000 after acquiring an additional 20,681 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of EMCOR Group by 2,332.0% in the first quarter. Sound Income Strategies LLC now owns 608 shares of the construction company's stock valued at $225,000 after acquiring an additional 583 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at EMCOR Group
In other EMCOR Group 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 sale, the director now directly owns 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 sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer now owns 208,989 shares in the company, valued at approximately $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. Company insiders own 0.83% of the company's stock.
EMCOR Group Price Performance
Shares of NYSE:EME traded down $0.02 during mid-day trading on Friday, reaching $485.19. The stock had a trading volume of 1,452,509 shares, compared to its average volume of 454,054. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a market cap of $21.72 billion, a P/E ratio of 21.44 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 business's 50 day moving average price is $446.14 and its 200 day moving average price is $438.70.
EMCOR Group (NYSE:EME - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. The company had revenue of $3.87 billion for 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 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 business earned $4.17 earnings per share. Research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.
EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.
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 paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. EMCOR Group's payout ratio is currently 4.42%.
Analyst Ratings Changes
EME has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, UBS Group initiated coverage on EMCOR Group in a research report on Friday, June 13th. They issued a "buy" rating and a $570.00 price objective on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $509.60.
View Our Latest Stock 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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