New Age Alpha Advisors LLC reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 60.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,760 shares of the construction company’s stock after selling 4,307 shares during the period. New Age Alpha Advisors LLC’s holdings in EMCOR Group were worth $1,689,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Asahi Life Asset Management CO. LTD. acquired a new stake in EMCOR Group during the 3rd quarter worth approximately $445,000. Machina Capital S.A.S. bought a new position in shares of EMCOR Group during the 3rd quarter worth approximately $1,074,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of EMCOR Group by 12.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,149 shares of the construction company’s stock worth $7,972,000 after acquiring an additional 1,389 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of EMCOR Group by 18.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 23,982 shares of the construction company’s stock worth $15,577,000 after acquiring an additional 3,783 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in shares of EMCOR Group during the 3rd quarter worth approximately $5,459,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.
EMCOR Group Trading Down 0.5%
NYSE:EME opened at $856.94 on Thursday. EMCOR Group, Inc. has a 1-year low of $455.14 and a 1-year high of $951.96. The firm has a fifty day simple moving average of $825.21 and a 200 day simple moving average of $730.95. The stock has a market capitalization of $38.08 billion, a PE ratio of 28.75 and a beta of 1.17.
EMCOR Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is currently 5.37%.
Insiders Place Their Bets
In related news, Director Steven Schwarzwaelder sold 5,602 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $895.19, for a total value of $5,014,854.38. Following the completion of the transaction, the director directly owned 15,875 shares of the company’s stock, valued at approximately $14,211,141.25. This trade represents a 26.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Guzzi sold 36,000 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $729.48, for a total transaction of $26,261,280.00. Following the completion of the transaction, the chief executive officer directly owned 170,299 shares of the company’s stock, valued at $124,229,714.52. This represents a 17.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 45,077 shares of company stock valued at $34,416,471 in the last ninety days. 0.83% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on EME. Cantor Fitzgerald began coverage on shares of EMCOR Group in a research note on Tuesday, March 10th. They set an “overweight” rating and a $848.00 price target for the company. Robert W. Baird raised their price target on shares of EMCOR Group from $713.00 to $808.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. UBS Group raised their price target on shares of EMCOR Group from $900.00 to $945.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. DA Davidson raised their price target on shares of EMCOR Group from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen raised shares of EMCOR Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $799.29.
Check Out Our Latest Research Report on EME
EMCOR Group Profile
EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.
EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.
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