EMCOR Group, Inc. (NYSE:EME) Stake Trimmed by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its stake in EMCOR Group, Inc. (NYSE:EME) by 46.7% during the fourth quarter, HoldingsChannel reports. The firm owned 796 shares of the construction company’s stock after selling 697 shares during the period. Cresset Asset Management LLC’s holdings in EMCOR Group were worth $361,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in EMCOR Group in the 4th quarter worth about $45,000. SJS Investment Consulting Inc. grew its stake in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake 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 valued at $90,000 after acquiring an additional 25 shares in the last quarter. Altshuler Shaham Ltd grew its stake in EMCOR Group by 2,063.6% during the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock valued at $108,000 after acquiring an additional 227 shares in the last quarter. Finally, GeoWealth Management LLC grew its stake in EMCOR Group by 12.4% during the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company’s stock valued at $115,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $464.28 on Friday. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 23.58 and a beta of 1.18. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The stock has a 50-day simple moving average of $396.92 and a 200-day simple moving average of $442.95.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.17 EPS. As a group, equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. EMCOR Group’s dividend payout ratio is 4.42%.

EMCOR Group declared that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the sale, the chief executive officer now owns 208,989 shares of the company’s stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,197 shares of company stock worth $3,905,748. 0.83% of the stock is currently owned by 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.