EMCOR Group, Inc. (NYSE:EME) Shares Sold by Summit Global Investments

Summit Global Investments decreased its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 71.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,621 shares of the construction company's stock after selling 6,427 shares during the quarter. Summit Global Investments' holdings in EMCOR Group were worth $969,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in EMCOR Group by 1.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company's stock valued at $521,000 after purchasing an additional 21 shares during the period. Perigon Wealth Management LLC grew its position in EMCOR Group by 2.5% in the 4th quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company's stock valued at $353,000 after purchasing an additional 19 shares during the period. SteelPeak Wealth LLC grew its position in EMCOR Group by 25.4% in the 4th quarter. SteelPeak Wealth LLC now owns 1,455 shares of the construction company's stock valued at $660,000 after purchasing an additional 295 shares during the period. Strategic Blueprint LLC acquired a new stake in EMCOR Group in the 4th quarter valued at $516,000. Finally, Mediolanum International Funds Ltd grew its position in EMCOR Group by 195.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 16,158 shares of the construction company's stock valued at $7,370,000 after purchasing an additional 10,695 shares during the period. Institutional investors own 92.59% of the company's stock.

EMCOR Group Trading Down 0.4%

Shares of NYSE EME traded down $2.04 during midday trading on Monday, hitting $469.82. 330,859 shares of the company's stock were exchanged, compared to its average volume of 455,440. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 23.86 and a beta of 1.18. The business's fifty day moving average price is $415.04 and its two-hundred day moving average price is $441.17.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating 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 firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm posted $4.17 earnings per share. The business's quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Announces Dividend

The firm also recently disclosed 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 dividend yield of 0.21%. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.

Insider Activity at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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. Insiders have sold 9,197 shares of company stock valued at $3,905,748 over the last ninety days. Insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

EME has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus cut their price objective 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $494.50.

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.