EMCOR Group, Inc. (NYSE:EME) Shares Sold by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC reduced its stake in EMCOR Group, Inc. (NYSE:EME) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,136 shares of the construction company’s stock after selling 192 shares during the period. Main Management ETF Advisors LLC’s holdings in EMCOR Group were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in EME. Norges Bank bought a new position in EMCOR Group during the 4th quarter valued at $299,855,000. Invesco Ltd. boosted its stake in EMCOR Group by 28.0% during the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock valued at $598,465,000 after buying an additional 288,765 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in EMCOR Group by 94.2% during the fourth quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company’s stock worth $139,349,000 after acquiring an additional 148,915 shares during the period. First Trust Advisors LP raised its position in EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock worth $225,332,000 after acquiring an additional 129,186 shares in the last quarter. Finally, Swedbank AB lifted its holdings in EMCOR Group by 399.4% in the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after acquiring an additional 122,716 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Anthony Guzzi sold 7,000 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the transaction, the chief executive officer now directly owns 208,989 shares of the company’s stock, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of the firm’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 sale, the director now owns 7,094 shares of the company’s stock, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,197 shares of company stock worth $3,905,748 over the last quarter. Corporate insiders own 0.83% of the company’s stock.

EMCOR Group Trading Up 3.2%

Shares of EME opened at $472.00 on Wednesday. The business’s 50-day moving average price is $391.10 and its 200 day moving average price is $442.36. The stock has a market capitalization of $21.13 billion, a P/E ratio of 23.97 and a beta of 1.18. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

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

EMCOR Group declared that its board has authorized a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is currently 4.42%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $494.50.

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.