Wells Fargo & Company MN Sells 202,787 Shares of EMCOR Group, Inc. (NYSE:EME)

Wells Fargo & Company MN lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 41.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 286,621 shares of the construction company’s stock after selling 202,787 shares during the quarter. Wells Fargo & Company MN’s holdings in EMCOR Group were worth $130,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Landscape Capital Management L.L.C. increased its position in EMCOR Group by 93.2% during the 4th quarter. Landscape Capital Management L.L.C. now owns 2,622 shares of the construction company’s stock valued at $1,190,000 after buying an additional 1,265 shares in the last quarter. PAX Financial Group LLC increased its holdings in shares of EMCOR Group by 24.2% during the fourth quarter. PAX Financial Group LLC now owns 735 shares of the construction company’s stock valued at $334,000 after acquiring an additional 143 shares in the last quarter. Foundry Partners LLC raised its position in shares of EMCOR Group by 9.3% in the 4th quarter. Foundry Partners LLC now owns 1,779 shares of the construction company’s stock worth $807,000 after purchasing an additional 151 shares during the last quarter. Pitcairn Co. boosted its stake in EMCOR Group by 10.5% in the 4th quarter. Pitcairn Co. now owns 4,012 shares of the construction company’s stock worth $1,821,000 after purchasing an additional 381 shares in the last quarter. Finally, Motley Fool Asset Management LLC purchased a new stake in EMCOR Group during the 4th quarter valued at about $471,000. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EME has been the subject of several recent analyst reports. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Stock Down 3.6 %

EME opened at $341.76 on Monday. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 17.36 and a beta of 1.08. The firm has a 50 day moving average price of $408.04 and a 200-day moving average price of $450.55. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its board has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.