Cim LLC cut its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,021 shares of the construction company’s stock after selling 2,919 shares during the period. EMCOR Group makes up approximately 3.2% of Cim LLC’s investment portfolio, making the stock its 4th largest holding. Cim LLC owned about 0.07% of EMCOR Group worth $22,164,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bull Harbor Capital LLC bought a new position in EMCOR Group during the first quarter worth about $1,601,000. Arkadios Wealth Advisors increased its stake in shares of EMCOR Group by 20.8% in the 1st quarter. Arkadios Wealth Advisors now owns 1,593 shares of the construction company’s stock valued at $1,177,000 after acquiring an additional 274 shares during the last quarter. Altshuler Shaham Ltd increased its stake in shares of EMCOR Group by 13.7% in the 1st quarter. Altshuler Shaham Ltd now owns 2,129 shares of the construction company’s stock valued at $1,572,000 after acquiring an additional 257 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of EMCOR Group by 26.1% in the 1st quarter. Sunbelt Securities Inc. now owns 667 shares of the construction company’s stock valued at $493,000 after acquiring an additional 138 shares during the period. Finally, Value Aligned Research Advisors LLC raised its position in shares of EMCOR Group by 101.2% in the 1st quarter. Value Aligned Research Advisors LLC now owns 223,521 shares of the construction company’s stock valued at $165,028,000 after acquiring an additional 112,413 shares during the period. Institutional investors own 92.59% of the company’s stock.
EMCOR Group Stock Down 4.8%
Shares of EME stock opened at $671.68 on Thursday. The company’s fifty day simple moving average is $803.03 and its 200-day simple moving average is $786.60. The firm has a market cap of $29.85 billion, a PE ratio of 22.53 and a beta of 1.13. EMCOR Group, Inc. has a 12 month low of $564.92 and a 12 month high of $951.96.
EMCOR Group Announces Dividend
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 given 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 yield of 0.2%. EMCOR Group’s payout ratio is 5.37%.
Wall Street Analyst Weigh In
EME has been the topic of several recent analyst reports. Stifel Nicolaus set a $918.00 price objective on shares of EMCOR Group in a research note on Thursday, April 30th. Zacks Research raised shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $1,123.00 price target on shares of EMCOR Group in a research report on Tuesday, June 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a report on Friday, July 17th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $871.25.
Read Our Latest Research Report on EME
Insider Activity
In other news, Director William P. Reid sold 2,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 10,149 shares in the company, valued at $9,395,741.22. This represents a 16.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carol P. Lowe sold 950 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $844.50, for a total value of $802,275.00. Following the completion of the transaction, the director owned 17,278 shares of the company’s stock, valued at $14,591,271. The trade was a 5.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.
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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