Norden Group LLC Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

Norden Group LLC decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 7.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,884 shares of the construction company’s stock after selling 249 shares during the period. Norden Group LLC’s holdings in EMCOR Group were worth $1,010,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Toronto Dominion Bank boosted its position in EMCOR Group by 867.2% during the 3rd quarter. Toronto Dominion Bank now owns 561 shares of the construction company’s stock valued at $118,000 after buying an additional 503 shares during the period. Alps Advisors Inc. purchased a new stake in EMCOR Group during the 3rd quarter valued at $320,000. Sei Investments Co. boosted its position in EMCOR Group by 26.9% during the 3rd quarter. Sei Investments Co. now owns 140,086 shares of the construction company’s stock valued at $29,472,000 after buying an additional 29,696 shares during the period. The Manufacturers Life Insurance Company raised its holdings in EMCOR Group by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 229,561 shares of the construction company’s stock worth $48,297,000 after purchasing an additional 3,633 shares in the last quarter. Finally, Toroso Investments LLC raised its holdings in EMCOR Group by 213.2% in the 3rd quarter. Toroso Investments LLC now owns 3,771 shares of the construction company’s stock worth $793,000 after purchasing an additional 2,567 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson restated a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a report on Friday, March 22nd.

Insider Activity at EMCOR Group

In related news, Director Carol P. Lowe sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total transaction of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares in the company, valued at $6,289,683.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Price Performance

EME stock traded down $8.55 during trading on Friday, hitting $362.54. 290,088 shares of the stock traded hands, compared to its average volume of 469,107. The firm’s 50 day moving average is $377.31 and its two-hundred day moving average is $312.90. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 24.48 and a beta of 1.06. EMCOR Group, Inc. has a 1 year low of $180.63 and a 1 year high of $401.98.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25. The firm had revenue of $3.43 billion for the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. As a group, analysts anticipate that EMCOR Group, Inc. will post 16.1 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Monday, July 15th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.28%. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

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.