EMCOR Group, Inc. (NYSE:EME) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lowered its holdings in EMCOR Group, Inc. (NYSE:EME) by 59.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,534 shares of the construction company’s stock after selling 13,920 shares during the period. NewEdge Wealth LLC’s holdings in EMCOR Group were worth $4,327,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. World Investment Advisors LLC purchased a new position in EMCOR Group in the third quarter worth approximately $100,282,000. Nordea Investment Management AB lifted its stake in EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after acquiring an additional 136,501 shares during the last quarter. Swedbank AB lifted its stake in EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock worth $69,648,000 after acquiring an additional 122,716 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after acquiring an additional 88,074 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after acquiring an additional 75,578 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

EME has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. Northcoast Research assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective for the company. Finally, StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Trading Down 4.3 %

Shares of NYSE:EME opened at $402.58 on Friday. The company has a market capitalization of $18.52 billion, a PE ratio of 20.45 and a beta of 1.11. EMCOR Group, Inc. has a twelve month low of $289.51 and a twelve month high of $545.29. The firm has a 50 day simple moving average of $460.76 and a 200-day simple moving average of $448.49.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group’s payout ratio is 5.08%.

EMCOR Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.