Legacy Wealth Asset Management LLC Decreases Holdings in EMCOR Group, Inc. (NYSE:EME)

Legacy Wealth Asset Management LLC trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 9.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 850 shares of the construction company’s stock after selling 88 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in EMCOR Group were worth $314,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EME. Continuum Advisory LLC grew its position in EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock worth $38,000 after acquiring an additional 29 shares during the last quarter. Dogwood Wealth Management LLC bought a new position in EMCOR Group during the 4th quarter worth approximately $40,000. Summit Securities Group LLC bought a new position in EMCOR Group during the 4th quarter worth approximately $45,000. Park Square Financial Group LLC bought a new position in EMCOR Group during the 4th quarter worth approximately $48,000. Finally, True Wealth Design LLC grew its position in EMCOR Group by 24.3% during the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock worth $60,000 after acquiring an additional 26 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction 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 owns 208,989 shares of the company’s stock, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,197 shares of company stock worth $3,905,748. 0.83% of the stock is owned by insiders.

EMCOR Group Stock Performance

Shares of EME stock opened at $471.20 on Monday. The firm has a market cap of $21.09 billion, a P/E ratio of 23.93 and a beta of 1.18. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The business’s 50 day moving average price is $413.49 and its 200-day moving average price is $441.37.

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

EMCOR Group declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s payout ratio is 4.42%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their price target on EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $494.50.

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.