Moran Wealth Management LLC trimmed its position in EMCOR Group, Inc. (NYSE:EME – Free Report) by 6.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 22,115 shares of the construction company’s stock after selling 1,406 shares during the period. Moran Wealth Management LLC’s holdings in EMCOR Group were worth $16,327,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of EME. Swiss RE Ltd. purchased a new position in EMCOR Group during the fourth quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in EMCOR Group in the 4th quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in EMCOR Group in the 4th quarter worth approximately $28,000. Activest Wealth Management boosted its holdings in EMCOR Group by 800.0% in the 4th quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, Richardson Financial Services Inc. boosted its holdings in EMCOR Group by 71.9% in the 4th quarter. Richardson Financial Services Inc. now owns 55 shares of the construction company’s stock valued at $34,000 after purchasing an additional 23 shares during the period. 92.59% of the stock is currently owned by institutional investors.
EMCOR Group Trading Down 0.0%
Shares of EMCOR Group stock opened at $774.63 on Friday. The firm has a market capitalization of $34.42 billion, a PE ratio of 25.99 and a beta of 1.13. EMCOR Group, Inc. has a 12 month low of $532.25 and a 12 month high of $951.96. The business’s 50-day moving average price is $854.23 and its 200-day moving average price is $769.21.
EMCOR Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio (DPR) is 5.37%.
Insider Transactions at EMCOR Group
In other news, CFO Jason R. Nalbandian sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $856.43, for a total value of $685,144.00. Following the completion of the sale, the chief financial officer directly owned 18,157 shares in the company, valued at approximately $15,550,199.51. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William P. Reid sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $925.78, for a total transaction of $1,851,560.00. Following the completion of the sale, the director directly owned 10,149 shares of the company’s stock, valued at $9,395,741.22. This trade represents a 16.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,027 shares of company stock worth $8,957,466. Corporate insiders own 0.83% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on EME shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Monday, April 20th. Stifel Nicolaus set a $918.00 price objective on EMCOR Group in a research report on Thursday, April 30th. Oppenheimer started coverage on EMCOR Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $1,100.00 price objective for the company. Wall Street Zen upgraded EMCOR Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research upgraded EMCOR Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $871.25.
Check Out Our Latest Stock Report 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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