Allspring Global Investments Holdings LLC Buys 34,923 Shares of EMCOR Group, Inc. (NYSE:EME)

Allspring Global Investments Holdings LLC boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 360,548 shares of the construction company's stock after purchasing an additional 34,923 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.77% of EMCOR Group worth $77,673,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. VisionPoint Advisory Group LLC bought a new position in EMCOR Group during the 2nd quarter valued at $25,000. Zions Bancorporation N.A. acquired a new stake in shares of EMCOR Group in the 1st quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its position in shares of EMCOR Group by 66.2% during the first quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company's stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP grew its stake in EMCOR Group by 83.8% in the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company's stock worth $29,000 after purchasing an additional 62 shares in the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in EMCOR Group in the second quarter valued at about $35,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. KeyCorp assumed coverage on EMCOR Group in a report on Wednesday, January 10th. They set a "sector weight" rating on the stock. DA Davidson restated a "buy" rating and set a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd.

EMCOR Group Price Performance

Shares of NYSE:EME traded down $2.04 during trading on Wednesday, reaching $349.86. 512,485 shares of the company's stock traded hands, compared to its average volume of 416,259. The stock has a market capitalization of $16.46 billion, a P/E ratio of 26.29 and a beta of 1.10. EMCOR Group, Inc. has a 12 month low of $154.00 and a 12 month high of $369.53. The company has a 50 day moving average of $304.60 and a 200-day moving average of $244.62.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.96. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.63 EPS. Equities research analysts predict that EMCOR Group, Inc. will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.29%. This is a positive change from EMCOR Group's previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 15th. EMCOR Group's payout ratio is presently 5.41%.

Insiders Place Their Bets

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at approximately $70,010,701.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

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.