Wedge Capital Management L L P NC Decreases Position in EMCOR Group, Inc. (NYSE:EME)

Wedge Capital Management L L P NC cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,153 shares of the construction company's stock after selling 9,267 shares during the period. Wedge Capital Management L L P NC owned approximately 0.14% of EMCOR Group worth $14,036,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of EMCOR Group by 10.7% in the fourth quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company's stock valued at $21,880,000 after buying an additional 9,752 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in EMCOR Group in the 4th quarter worth $992,000. Federated Hermes Inc. lifted its holdings in EMCOR Group by 20.1% during the fourth quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company's stock valued at $22,094,000 after purchasing an additional 17,188 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of EMCOR Group by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company's stock valued at $56,078,000 after purchasing an additional 2,880 shares during the period. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in shares of EMCOR Group during the fourth quarter worth about $4,054,000. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Price Performance

EME traded up $5.49 on Tuesday, reaching $338.08. 399,499 shares of the company's stock were exchanged, compared to its average volume of 418,746. EMCOR Group, Inc. has a twelve month low of $155.46 and a twelve month high of $369.53. The stock has a market cap of $15.91 billion, a PE ratio of 25.40 and a beta of 1.10. The stock's fifty day moving average price is $323.00 and its 200-day moving average price is $253.31.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.96. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The business had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the previous year, the firm posted $2.63 EPS. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be given a dividend of $0.25 per share. This is a boost from EMCOR Group's previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Monday, April 15th. EMCOR Group's dividend payout ratio (DPR) is presently 7.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EME shares. KeyCorp initiated coverage on EMCOR Group in a research note on Wednesday, January 10th. They set a "sector weight" rating for the company. DA Davidson reiterated a "buy" rating and set a $375.00 price target on shares of EMCOR Group in a research report on Friday, March 22nd.

Insiders Place Their Bets

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

About EMCOR Group

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.