E. Ohman J or Asset Management AB Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

E. Ohman J or Asset Management AB lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 11.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,850 shares of the construction company’s stock after selling 250 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in EMCOR Group were worth $684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EME. Continuum Advisory LLC lifted its position in shares of EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock worth $38,000 after buying an additional 29 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $40,000. Summit Securities Group LLC purchased a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $45,000. Park Square Financial Group LLC bought a new stake in EMCOR Group during the fourth quarter worth $48,000. Finally, True Wealth Design LLC boosted its position in EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock worth $60,000 after purchasing an additional 26 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $494.50.

Insiders Place Their Bets

In other news, CEO Anthony Guzzi sold 7,000 shares of the company’s 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 sale, the chief executive officer now directly owns 208,989 shares in the company, valued at $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,197 shares of company stock worth $3,905,748 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME opened at $490.11 on Friday. The stock has a market capitalization of $21.94 billion, a PE ratio of 24.89 and a beta of 1.23. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The business’s fifty day moving average price is $424.01 and its 200-day moving average price is $441.49.

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 the consensus estimate of $4.57 by $0.84. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.17 earnings per share. As a group, equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. EMCOR Group’s payout ratio is 4.42%.

EMCOR Group declared 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 repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.