Castleark Management LLC Makes New $5.59 Million Investment in EMCOR Group, Inc. (NYSE:EME)

Castleark Management LLC acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,320 shares of the construction company’s stock, valued at approximately $5,592,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of EME. Continuum Advisory LLC lifted its holdings in shares of EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock valued at $38,000 after acquiring an additional 29 shares during the period. Summit Securities Group LLC bought a new position in EMCOR Group during the 4th quarter valued at about $45,000. SJS Investment Consulting Inc. lifted its holdings in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares during the last quarter. True Wealth Design LLC boosted its position in EMCOR Group by 24.3% in the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock valued at $60,000 after buying an additional 26 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after buying an additional 25 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

EME has been the subject of a number of research analyst reports. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut their price objective on EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. 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 company currently has an average rating of “Moderate Buy” and an average price target of $494.50.

Insider Buying and Selling

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director now directly owns 7,094 shares of the company’s stock, valued at $2,928,616.02. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,197 shares of company stock worth $3,905,748 over the last three months. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Trading Down 1.8%

Shares of EME stock opened at $464.24 on Thursday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The firm’s 50 day moving average is $404.11 and its 200-day moving average is $443.71. The firm has a market capitalization of $20.78 billion, a price-to-earnings ratio of 23.58 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, topping the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.17 EPS. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s dividend payout ratio is 4.42%.

EMCOR Group declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management 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.