EMCOR Group, Inc. (NYSE:EME) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,539 shares of the construction company’s stock after selling 1,702 shares during the quarter. Investment Management Corp of Ontario’s holdings in EMCOR Group were worth $4,784,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its holdings in shares of EMCOR Group by 280.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,230 shares of the construction company’s stock valued at $4,643,000 after buying an additional 7,543 shares during the period. Janus Henderson Group PLC boosted its stake in EMCOR Group by 13.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,819 shares of the construction company’s stock valued at $1,734,000 after acquiring an additional 456 shares during the period. Guardian Wealth Advisors LLC NC bought a new position in shares of EMCOR Group during the fourth quarter valued at approximately $202,000. Gotham Asset Management LLC raised its position in shares of EMCOR Group by 40.9% during the 4th quarter. Gotham Asset Management LLC now owns 35,151 shares of the construction company’s stock worth $15,955,000 after purchasing an additional 10,206 shares during the period. Finally, Focus Partners Wealth lifted its holdings in shares of EMCOR Group by 351.8% in the 4th quarter. Focus Partners Wealth now owns 6,827 shares of the construction company’s stock worth $3,160,000 after purchasing an additional 5,316 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

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

EMCOR Group Stock Performance

NYSE:EME opened at $439.21 on Friday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The business has a fifty day moving average of $389.79 and a 200-day moving average of $442.18. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 22.31 and a beta of 1.18.

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

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.42%.

EMCOR Group announced that its board has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction on Thursday, March 13th. The stock was 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 owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the transaction, the director now owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,197 shares of company stock worth $3,905,748 over the last 90 days. 1.26% of the stock is currently owned by company 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.