Spire Wealth Management Cuts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Spire Wealth Management lowered its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 91.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 316 shares of the construction company's stock after selling 3,590 shares during the period. Spire Wealth Management's holdings in EMCOR Group were worth $117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EME. QRG Capital Management Inc. grew its stake in shares of EMCOR Group by 29.9% during the fourth quarter. QRG Capital Management Inc. now owns 3,829 shares of the construction company's stock worth $1,738,000 after purchasing an additional 882 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in EMCOR Group by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 321 shares of the construction company's stock valued at $147,000 after acquiring an additional 116 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in EMCOR Group by 408.0% in the fourth quarter. Jones Financial Companies Lllp now owns 508 shares of the construction company's stock valued at $231,000 after acquiring an additional 408 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in EMCOR Group in the fourth quarter valued at $152,000. Finally, Plato Investment Management Ltd boosted its stake in EMCOR Group by 31.6% in the fourth quarter. Plato Investment Management Ltd now owns 3,739 shares of the construction company's stock valued at $1,703,000 after acquiring an additional 898 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of EMCOR Group in a research note on Friday, June 13th. They issued a "buy" rating and a $570.00 price objective for the company. TD Securities initiated coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating for the company. William Blair initiated coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set an "outperform" rating for the company. Hovde Group upgraded shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. Finally, Stifel Nicolaus decreased their target price on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $518.00.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction 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 transaction, the chief executive officer owned 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group 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 completion of the transaction, the director owned 7,094 shares in the company, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

EMCOR Group Price Performance

EMCOR Group stock traded up $4.84 during mid-day trading on Friday, reaching $546.64. The company had a trading volume of 302,472 shares, compared to its average volume of 449,861. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $550.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14. The company has a market capitalization of $24.47 billion, a P/E ratio of 24.16 and a beta of 1.24. The stock's 50-day simple moving average is $474.05 and its 200-day simple moving average is $441.65.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The business had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the company posted $4.17 EPS. The company's revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

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

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.