Zacks Investment Management Decreases Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Zacks Investment Management lowered its position in EMCOR Group, Inc. (NYSE:EME) by 8.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 133,782 shares of the construction company’s stock after selling 13,024 shares during the period. Zacks Investment Management’s holdings in EMCOR Group were worth $60,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Perigon Wealth Management LLC boosted its position in shares of EMCOR Group by 2.5% during the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock worth $353,000 after buying an additional 19 shares during the period. Adirondack Trust Co. raised its holdings in EMCOR Group by 5.0% during the fourth quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after purchasing an additional 20 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of EMCOR Group by 1.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock worth $521,000 after purchasing an additional 21 shares during the last quarter. Petra Financial Advisors Inc. raised its holdings in shares of EMCOR Group by 1.4% in the fourth quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock valued at $789,000 after buying an additional 24 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Trading Up 1.0 %

EMCOR Group stock opened at $389.77 on Wednesday. The business has a 50-day moving average of $395.09 and a 200-day moving average of $446.72. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The firm has a market capitalization of $17.72 billion, a P/E ratio of 19.80 and a beta of 1.08.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its board has initiated a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, April 17th. EMCOR Group’s payout ratio is 4.64%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EME. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.