Truist Financial Corp Purchases 1,201 Shares of EMCOR Group, Inc. (NYSE:EME)

Truist Financial Corp raised its position in EMCOR Group, Inc. (NYSE:EME) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,220 shares of the construction company’s stock after buying an additional 1,201 shares during the quarter. Truist Financial Corp’s holdings in EMCOR Group were worth $2,417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in EMCOR Group by 10.7% in the fourth quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock valued at $21,880,000 after acquiring an additional 9,752 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of EMCOR Group during the 4th quarter worth $992,000. Federated Hermes Inc. boosted its stake in EMCOR Group by 20.1% in the fourth quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company’s stock valued at $22,094,000 after buying an additional 17,188 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in EMCOR Group by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company’s stock valued at $56,078,000 after acquiring an additional 2,880 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC bought a new position in shares of EMCOR Group in the fourth quarter worth about $4,054,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $379.72 on Thursday. The stock has a market cap of $17.85 billion, a P/E ratio of 25.05 and a beta of 1.07. The firm has a 50 day moving average price of $344.38 and a two-hundred day moving average price of $265.09. EMCOR Group, Inc. has a 52-week low of $161.49 and a 52-week high of $380.00.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The business had revenue of $3.43 billion during the quarter. Analysts predict that EMCOR Group, Inc. will post 16.1 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a dividend of $0.25 per share. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Analysts Set New Price Targets

A number of research firms have weighed in on EME. DA Davidson reaffirmed a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp initiated coverage on EMCOR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company.

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.