Formidable Asset Management LLC Invests $880,000 in EMCOR Group, Inc. (NYSE:EME)

Formidable Asset Management LLC purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,087 shares of the construction company's stock, valued at approximately $880,000.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC raised its stake in shares of EMCOR Group by 7.3% during the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company's stock worth $747,239,000 after buying an additional 241,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in EMCOR Group by 41.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company's stock worth $224,813,000 after buying an additional 310,718 shares during the period. Invesco Ltd. raised its position in shares of EMCOR Group by 40.1% in the 3rd quarter. Invesco Ltd. now owns 919,304 shares of the construction company's stock valued at $193,412,000 after purchasing an additional 263,330 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in EMCOR Group by 1.2% in the third quarter. Burgundy Asset Management Ltd. now owns 654,661 shares of the construction company's stock valued at $137,734,000 after buying an additional 7,953 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in EMCOR Group by 30.2% during the third quarter. AQR Capital Management LLC now owns 426,706 shares of the construction company's stock valued at $89,775,000 after purchasing an additional 98,989 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson reissued a "buy" rating and set a $375.00 target price on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Stock Performance

Shares of NYSE:EME traded down $2.00 during mid-day trading on Friday, hitting $380.28. The stock had a trading volume of 287,188 shares, compared to its average volume of 469,480. The company has a market cap of $17.87 billion, a PE ratio of 25.08 and a beta of 1.07. The company's 50 day moving average is $346.97 and its 200-day moving average is $268.26. EMCOR Group, Inc. has a 12-month low of $161.49 and a 12-month high of $385.37.

EMCOR Group (NYSE:EME - Get Free Report) last posted its earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $1.25. The business had revenue of $3.43 billion for the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. On average, equities research analysts predict that EMCOR Group, Inc. will post 16.1 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Monday, April 15th. This is a boost from EMCOR Group's previous quarterly dividend of $0.18. EMCOR Group's payout ratio is 6.60%.

Insider Activity at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 219,023 shares of the company's stock, valued at approximately $70,010,701.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is currently owned by company 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.