MQS Management LLC reduced its position in EMCOR Group, Inc. (NYSE:EME – Free Report) by 70.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 335 shares of the construction company’s stock after selling 811 shares during the quarter. MQS Management LLC’s holdings in EMCOR Group were worth $247,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of EMCOR Group by 2.2% during the fourth quarter. State Street Corp now owns 1,893,792 shares of the construction company’s stock worth $1,158,603,000 after acquiring an additional 40,801 shares during the period. Geode Capital Management LLC lifted its position in EMCOR Group by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,425,523 shares of the construction company’s stock valued at $869,343,000 after purchasing an additional 7,790 shares during the period. Victory Capital Management Inc. lifted its position in EMCOR Group by 34.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,276,966 shares of the construction company’s stock valued at $781,239,000 after purchasing an additional 327,606 shares during the period. Invesco Ltd. boosted its holdings in EMCOR Group by 10.5% in the 4th quarter. Invesco Ltd. now owns 799,271 shares of the construction company’s stock valued at $488,986,000 after purchasing an additional 75,692 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in EMCOR Group by 132,234.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company’s stock valued at $409,661,000 after purchasing an additional 669,105 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
EMCOR Group Stock Performance
Shares of EME stock opened at $774.63 on Friday. The stock has a fifty day moving average price of $855.90 and a 200 day moving average price of $769.17. The stock has a market cap of $34.42 billion, a PE ratio of 25.99 and a beta of 1.13. EMCOR Group, Inc. has a 1 year low of $532.25 and a 1 year high of $951.96.
EMCOR Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, July 15th. EMCOR Group’s dividend payout ratio is presently 5.37%.
Insider Activity
In other EMCOR Group news, CFO Jason R. Nalbandian sold 800 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,157 shares in the company, valued at approximately $15,550,199.51. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William P. Reid sold 2,000 shares of EMCOR Group stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $925.78, for a total transaction of $1,851,560.00. Following the transaction, the director owned 10,149 shares of the company’s stock, valued at approximately $9,395,741.22. The trade was a 16.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,027 shares of company stock worth $8,957,466 in the last three months. Company insiders own 0.83% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Oppenheimer started coverage on EMCOR Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $1,100.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $1,123.00 price target on shares of EMCOR Group in a research note on Tuesday, June 16th. UBS Group upped 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. Stifel Nicolaus set a $918.00 price objective on EMCOR Group in a research report on Thursday, April 30th. Finally, Zacks Research upgraded EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and an average price target of $871.25.
Check Out Our Latest Research Report on EMCOR Group
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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