RiverFront Investment Group LLC purchased a new position in EMCOR Group, Inc. (NYSE:EME – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,014 shares of the construction company’s stock, valued at approximately $620,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Great Lakes Advisors LLC grew its position in EMCOR Group by 32.3% in the first quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company’s stock worth $218,000 after acquiring an additional 144 shares in the last quarter. Geneos Wealth Management Inc. grew its position in EMCOR Group by 93.0% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company’s stock worth $81,000 after acquiring an additional 106 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in EMCOR Group in the second quarter worth about $459,000. Baird Financial Group Inc. grew its position in EMCOR Group by 5.0% in the second quarter. Baird Financial Group Inc. now owns 5,820 shares of the construction company’s stock worth $3,113,000 after acquiring an additional 275 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in EMCOR Group by 406.1% in the second quarter. Bank of Nova Scotia now owns 4,565 shares of the construction company’s stock worth $2,442,000 after acquiring an additional 3,663 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
EMCOR Group Price Performance
Shares of NYSE:EME opened at $875.56 on Tuesday. The business has a 50 day simple moving average of $806.06 and a two-hundred day simple moving average of $722.39. EMCOR Group, Inc. has a 1 year low of $450.68 and a 1 year high of $951.96. The firm has a market capitalization of $38.91 billion, a PE ratio of 29.37 and a beta of 1.17.
EMCOR Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, April 16th. EMCOR Group’s payout ratio is currently 5.37%.
Insider Activity
In other news, CFO Jason R. Nalbandian sold 800 shares of EMCOR Group stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $856.43, for a total transaction of $685,144.00. Following the completion of the sale, the chief financial officer owned 18,157 shares of the company’s stock, valued at approximately $15,550,199.51. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Guzzi sold 36,000 shares of EMCOR Group stock in a transaction that occurred 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 45,077 shares of company stock valued at $34,416,471. Insiders own 1.26% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on EME. UBS Group boosted their target price on EMCOR Group from $900.00 to $945.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Robert W. Baird boosted their target price on EMCOR Group from $713.00 to $808.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. DA Davidson boosted their target price on EMCOR Group from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Monday, April 20th. Finally, Zacks Research upgraded EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $799.29.
Get Our Latest Analysis on EME
EMCOR Group Company 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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