Nuveen Asset Management LLC Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

Nuveen Asset Management LLC lowered its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 13.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 170,637 shares of the construction company’s stock after selling 25,678 shares during the period. Nuveen Asset Management LLC’s holdings in EMCOR Group were worth $77,452,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EME. Park Avenue Securities LLC grew its position in shares of EMCOR Group by 15.3% during the fourth quarter. Park Avenue Securities LLC now owns 5,333 shares of the construction company’s stock worth $2,421,000 after purchasing an additional 706 shares in the last quarter. RDA Financial Network purchased a new stake in shares of EMCOR Group during the fourth quarter worth about $309,000. Merit Financial Group LLC purchased a new stake in shares of EMCOR Group during the fourth quarter worth about $971,000. Arkadios Wealth Advisors grew its position in shares of EMCOR Group by 26.8% during the fourth quarter. Arkadios Wealth Advisors now owns 800 shares of the construction company’s stock worth $363,000 after purchasing an additional 169 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of EMCOR Group during the fourth quarter worth about $439,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, CEO Anthony Guzzi sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 208,989 shares of the company’s stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This represents a 4.33% 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 ninety days. Insiders own 0.83% of the company’s stock.

EMCOR Group Trading Up 1.5%

EME opened at $471.33 on Friday. The stock has a 50-day moving average of $398.87 and a 200 day moving average of $443.27. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The firm has a market cap of $21.10 billion, a P/E ratio of 23.94 and a beta of 1.18.

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

EMCOR Group announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s payout ratio is 4.42%.

Wall Street Analysts Forecast Growth

EME has been the subject of several research analyst reports. Stifel Nicolaus cut their price target on EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a report on Thursday, May 1st. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $494.50.

About EMCOR Group

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.