Southport Management L.L.C. Sells 1,000 Shares of EMCOR Group, Inc. (NYSE:EME)

Southport Management L.L.C. trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 40.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,500 shares of the construction company’s stock after selling 1,000 shares during the quarter. EMCOR Group makes up approximately 2.5% of Southport Management L.L.C.’s investment portfolio, making the stock its 20th biggest holding. Southport Management L.L.C.’s holdings in EMCOR Group were worth $681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in EMCOR Group by 9.2% during the fourth quarter. Royal Bank of Canada now owns 310,775 shares of the construction company’s stock valued at $141,061,000 after purchasing an additional 26,305 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $780,000. Redwood Investment Management LLC acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $1,417,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $915,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $1,647,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EME has been the topic of several recent analyst reports. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $494.50.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $464.28 on Friday. The firm has a fifty day moving average of $396.92 and a two-hundred day moving average of $442.95. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 23.58 and a beta of 1.18. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

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

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio is currently 4.42%.

EMCOR Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the transaction, the chief executive officer now owns 208,989 shares in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director now owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,197 shares of company stock worth $3,905,748 in the last quarter. Corporate insiders own 0.83% of the company’s stock.

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.