Synergy Asset Management LLC Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Synergy Asset Management LLC bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 771 shares of the construction company's stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after buying an additional 288,765 shares during the last quarter. Select Equity Group L.P. boosted its holdings in EMCOR Group by 1.6% in the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after purchasing an additional 16,563 shares during the last quarter. Geode Capital Management LLC grew its stake in EMCOR Group by 2.6% during 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 purchasing an additional 25,502 shares in the last quarter. Norges Bank purchased a new stake in EMCOR Group during the 4th quarter worth approximately $299,855,000. Finally, Northern Trust Corp increased its holdings in EMCOR Group by 22.9% during the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after purchasing an additional 102,738 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Price Performance

EME stock traded up $3.26 during trading on Wednesday, hitting $503.91. The company had a trading volume of 109,054 shares, compared to its average volume of 451,899. The business has a 50 day moving average of $450.55 and a 200 day moving average of $438.52. The firm has a market capitalization of $22.55 billion, a price-to-earnings ratio of 22.27 and a beta of 1.23. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data 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 company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.17 EPS. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its Board of Directors has approved a share 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 repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's dividend payout ratio is 4.42%.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction on Monday, May 5th. The shares were 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 of the company's stock, valued at $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director now directly owns 7,094 shares in the company, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. UBS Group started coverage on shares of EMCOR Group in a research note on Friday, June 13th. They set a "buy" rating and a $570.00 price objective on the stock. Finally, Stifel Nicolaus dropped 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 report on Thursday, May 1st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EMCOR Group currently has an average rating of "Moderate Buy" and a consensus target price of $509.60.

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.