Harvest Fund Management Co. Ltd trimmed its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 68.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438 shares of the construction company’s stock after selling 937 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in EMCOR Group were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of EME. Vanguard Group Inc. grew its position in EMCOR Group by 17.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,332,636 shares of the construction company’s stock worth $3,463,760,000 after acquiring an additional 798,975 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in EMCOR Group by 132,234.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company’s stock worth $409,661,000 after acquiring an additional 669,105 shares during the last quarter. Norges Bank purchased a new stake in EMCOR Group in the 4th quarter worth approximately $389,702,000. Victory Capital Management Inc. lifted its holdings in EMCOR Group by 48.8% in the 3rd quarter. Victory Capital Management Inc. now owns 949,360 shares of the construction company’s stock worth $572,351,000 after buying an additional 311,474 shares during the period. Finally, State Street Corp lifted its holdings in EMCOR Group by 15.2% in the 3rd quarter. State Street Corp now owns 1,852,991 shares of the construction company’s stock worth $1,203,592,000 after buying an additional 244,494 shares during the period. 92.59% of the stock is currently owned by institutional investors.
EMCOR Group Stock Down 3.4%
EME opened at $817.00 on Friday. The stock has a market cap of $36.31 billion, a PE ratio of 27.41 and a beta of 1.12. The business has a 50 day moving average of $837.60 and a 200-day moving average of $739.90. EMCOR Group, Inc. has a 52 week low of $455.14 and a 52 week high of $951.96.
EMCOR Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 16th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 16th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s payout ratio is currently 5.37%.
Insider Transactions at EMCOR Group
In related news, Director Steven Schwarzwaelder sold 5,602 shares of EMCOR Group stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $895.19, for a total transaction of $5,014,854.38. Following the sale, the director directly owned 15,875 shares in the company, valued at $14,211,141.25. The trade was a 26.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Reid sold 2,000 shares of EMCOR Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $925.78, for a total value of $1,851,560.00. Following the sale, the director owned 10,149 shares in the company, valued at $9,395,741.22. This represents a 16.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,077 shares of company stock valued at $8,155,191. Company insiders own 0.83% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. UBS Group increased their price objective on EMCOR Group from $900.00 to $945.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Oppenheimer assumed coverage on EMCOR Group in a report on Thursday, May 28th. They issued an “outperform” rating and a $1,100.00 price objective for the company. Cantor Fitzgerald assumed coverage on EMCOR Group in a report on Tuesday, March 10th. They issued an “overweight” rating and a $848.00 price objective for the company. Wall Street Zen upgraded EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Stifel Nicolaus set a $918.00 price objective on EMCOR Group in a report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $836.88.
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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