City Center Advisors LLC Cuts Stock Position in EMCOR Group, Inc. (NYSE:EME)

City Center Advisors LLC lessened its position in EMCOR Group, Inc. (NYSE:EME) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 684 shares of the construction company’s stock after selling 149 shares during the quarter. City Center Advisors LLC’s holdings in EMCOR Group were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC increased its holdings in 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 purchasing an additional 29 shares during the period. Dogwood Wealth Management LLC purchased a new stake in EMCOR Group during the 4th quarter worth about $40,000. Summit Securities Group LLC purchased a new stake in EMCOR Group during the 4th quarter worth about $45,000. Park Square Financial Group LLC purchased a new stake in EMCOR Group during the 4th quarter worth about $48,000. Finally, True Wealth Design LLC increased its holdings in EMCOR Group by 24.3% during the 4th 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 period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were 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 directly owns 7,094 shares of the company’s stock, 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 9,197 shares of company stock valued at $3,905,748 in the last three months. 0.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EME. Stifel Nicolaus dropped their price objective on EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wall Street Zen downgraded 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 given a buy rating to the company’s stock. According to data from MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.50.

EMCOR Group Stock Up 1.2%

NYSE:EME opened at $490.11 on Friday. The stock’s 50 day moving average price is $424.01 and its 200 day moving average price is $441.49. The company 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 52-week low of $319.49 and a 52-week high of $545.30.

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

EMCOR Group declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

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

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.