Wellington Management Group LLP Increases Holdings in EMCOR Group, Inc. (NYSE:EME)

Wellington Management Group LLP raised its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 152.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 83,294 shares of the construction company's stock after purchasing an additional 50,323 shares during the period. Wellington Management Group LLP owned 0.18% of EMCOR Group worth $37,807,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EME. Perigon Wealth Management LLC boosted its holdings in shares of EMCOR Group by 2.5% during the 4th quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company's stock worth $353,000 after buying an additional 19 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of EMCOR Group by 1.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company's stock valued at $521,000 after acquiring an additional 21 shares during the period. Petra Financial Advisors Inc. lifted its position in shares of EMCOR Group by 1.4% during the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock valued at $789,000 after acquiring an additional 24 shares during the period. True Wealth Design LLC boosted its stake in EMCOR Group by 24.3% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after acquiring an additional 26 shares in the last quarter. Finally, GeoWealth Management LLC grew its holdings in EMCOR Group by 12.4% in the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock worth $115,000 after purchasing an additional 28 shares during the period. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EME has been the topic of several research reports. Stifel Nicolaus dropped 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. Wall Street Zen downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $494.50.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded down $2.04 during trading hours on Monday, reaching $469.82. The company's stock had a trading volume of 330,859 shares, compared to its average volume of 455,440. The company has a market capitalization of $21.03 billion, a P/E ratio of 23.86 and a beta of 1.18. The stock's fifty day simple moving average is $413.49 and its two-hundred day simple moving average is $441.37. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. The business had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.17 EPS. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently announced 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 was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. EMCOR Group's payout ratio is 4.42%.

EMCOR Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Anthony Guzzi sold 7,000 shares of the company's 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 completion of the sale, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,197 shares of company stock worth $3,905,748. 0.83% of the stock is owned by corporate 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.