EMCOR Group, Inc. (NYSE:EME) Shares Sold by DnB Asset Management AS

DnB Asset Management AS cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,919 shares of the construction company’s stock after selling 264 shares during the quarter. DnB Asset Management AS’s holdings in EMCOR Group were worth $5,410,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC increased its position in shares of EMCOR Group by 2.5% during the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock worth $353,000 after acquiring an additional 19 shares during the period. Adirondack Trust Co. grew its stake in EMCOR Group by 5.0% during the 4th quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after purchasing an additional 20 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in EMCOR Group by 1.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock worth $521,000 after purchasing an additional 21 shares during the period. Petra Financial Advisors Inc. raised its position in EMCOR Group by 1.4% in the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock valued at $789,000 after purchasing an additional 24 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after purchasing an additional 25 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

EME opened at $371.22 on Monday. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The company has a market cap of $16.88 billion, a P/E ratio of 18.85 and a beta of 1.14. The business’s 50-day simple moving average is $424.19 and its 200-day simple moving average is $451.81.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating 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 company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. As a group, analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were given a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the sale, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction 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 insiders.

Analysts Set New Price Targets

EME has been the topic of a number of recent research reports. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group 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.