Trust Point Inc. Sells 1,409 Shares of EMCOR Group, Inc. (NYSE:EME)

Trust Point Inc. cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 61.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 879 shares of the construction company's stock after selling 1,409 shares during the quarter. Trust Point Inc.'s holdings in EMCOR Group were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EME. Continuum Advisory LLC raised its position in EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after purchasing an additional 29 shares in the last quarter. Dogwood Wealth Management LLC bought a new position in EMCOR Group during the 4th quarter worth about $40,000. Summit Securities Group LLC purchased a new position in EMCOR Group during the 4th quarter valued at about $45,000. Park Square Financial Group LLC bought a new stake in shares of EMCOR Group in the 4th quarter valued at about $48,000. Finally, True Wealth Design LLC lifted its position in shares of EMCOR Group by 24.3% in the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after purchasing an additional 26 shares during the period. Institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

EME has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective 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. Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, UBS Group assumed coverage on EMCOR Group in a research note on Friday, June 13th. They issued a "buy" rating and a $570.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $509.60.

EMCOR Group Stock Down 0.9%

EMCOR Group stock opened at $481.38 on Wednesday. The business has a fifty day moving average price of $440.06 and a 200-day moving average price of $439.21. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The stock has a market capitalization of $21.55 billion, a price-to-earnings ratio of 21.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.17 earnings per share. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

EMCOR Group declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 7,000 shares of the 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 transaction, the chief executive officer now owns 208,989 shares in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robin A. Walker-Lee sold 947 shares of the business's 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 transaction, the director now 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. 1.26% of the stock is currently owned by company insiders.

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.

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