Sound Income Strategies LLC Buys 583 Shares of EMCOR Group, Inc. (NYSE:EME)

Sound Income Strategies LLC increased its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 2,332.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 608 shares of the construction company's stock after acquiring an additional 583 shares during the quarter. Sound Income Strategies LLC's holdings in EMCOR Group were worth $225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. increased its position in 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 acquiring an additional 288,765 shares during the period. Select Equity Group L.P. increased its holdings in EMCOR Group by 1.6% in the 4th quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after buying an additional 16,563 shares during the period. Geode Capital Management LLC increased its holdings in EMCOR Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after buying an additional 25,502 shares during the period. Norges Bank bought a new stake in EMCOR Group in the 4th quarter valued at $299,855,000. Finally, Northern Trust Corp increased its holdings in EMCOR Group by 22.9% in the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock valued at $250,046,000 after buying an additional 102,738 shares during the period. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Up 1.7%

NYSE:EME opened at $485.88 on Tuesday. The firm has a market cap of $21.75 billion, a PE ratio of 24.68 and a beta of 1.23. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The company's 50-day moving average price is $438.25 and its two-hundred day moving average price is $438.92.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly 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. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company earned $4.17 EPS. EMCOR Group's revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.21%. EMCOR Group's dividend payout ratio (DPR) is 4.42%.

EMCOR Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

EME has been the topic of several analyst reports. UBS Group initiated coverage on shares of EMCOR Group in a report on Friday. They issued a "buy" rating and a $570.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a 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 report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $509.60.

Insiders Place Their Bets

In related news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now directly owns 7,094 shares of the company's stock, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.83% of the company's stock.

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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