EMCOR Group, Inc. (NYSE:EME) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in EMCOR Group, Inc. (NYSE:EME) by 10.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 192,244 shares of the construction company’s stock after selling 23,292 shares during the period. Bank of America Corp DE’s holdings in EMCOR Group were worth $87,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Summit Securities Group LLC acquired a new stake in EMCOR Group during the fourth quarter worth $45,000. SJS Investment Consulting Inc. lifted its holdings in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after buying an additional 25 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in EMCOR Group by 2,063.6% during the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock worth $108,000 after buying an additional 227 shares during the last quarter. Finally, GeoWealth Management LLC lifted its holdings in EMCOR Group by 12.4% during the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company’s stock worth $115,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME opened at $439.21 on Monday. The business’s 50-day simple moving average is $389.79 and its 200-day simple moving average is $442.15. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The stock has a market capitalization of $19.66 billion, a P/E ratio of 22.31 and a beta of 1.18.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $4.57 by $0.84. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the firm earned $4.17 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

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

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.42%.

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 947 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director now owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,197 shares of company stock worth $3,905,748 in the last quarter. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target on EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a report on Thursday, May 1st. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average price target of $494.50.

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.