EMCOR Group, Inc. (NYSE:EME) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its position in EMCOR Group, Inc. (NYSE:EME) by 59.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,534 shares of the construction company’s stock after selling 13,920 shares during the quarter. NewEdge Wealth LLC’s holdings in EMCOR Group were worth $4,327,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after buying an additional 24,541 shares during the period. Geode Capital Management LLC increased its stake in EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after buying an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC increased its stake in EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after buying an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in EMCOR Group by 11.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after buying an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after buying an additional 88,074 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EME has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price target 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. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Finally, Stifel Nicolaus lowered their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 4.3 %

EMCOR Group stock opened at $402.58 on Friday. EMCOR Group, Inc. has a 52 week low of $289.51 and a 52 week high of $545.29. The firm’s 50-day simple moving average is $460.76 and its 200 day simple moving average is $448.49. The firm has a market capitalization of $18.52 billion, a PE ratio of 20.45 and a beta of 1.11.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is 5.08%.

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

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.