Rafferty Asset Management LLC Sells 25 Shares of EMCOR Group, Inc. (NYSE:EME)

Rafferty Asset Management LLC decreased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,051 shares of the construction company’s stock after selling 25 shares during the quarter. Rafferty Asset Management LLC’s holdings in EMCOR Group were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EME. Arkadios Wealth Advisors boosted 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 acquiring an additional 169 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of EMCOR Group during the fourth quarter worth $439,000. UMB Bank n.a. boosted its position in shares of EMCOR Group by 9.4% during the fourth quarter. UMB Bank n.a. now owns 1,139 shares of the construction company’s stock worth $517,000 after acquiring an additional 98 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of 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 acquiring an additional 25 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its position in shares of EMCOR Group by 4.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,197 shares of company stock valued at $3,905,748. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EME shares. Stifel Nicolaus dropped their target price on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $494.50.

EMCOR Group Stock Down 1.2%

EME stock opened at $458.41 on Friday. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The company has a fifty day simple moving average of $405.38 and a two-hundred day simple moving average of $443.69. The firm has a market capitalization of $20.52 billion, a P/E ratio of 23.28 and a beta of 1.18.

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

EMCOR Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently announced 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 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s dividend payout ratio is currently 4.42%.

EMCOR Group Company Profile

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.