Wright Investors Service Inc. Sells 34 Shares of EMCOR Group, Inc. (NYSE:EME)

Wright Investors Service Inc. cut its stake in EMCOR Group, Inc. (NYSE:EME) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,033 shares of the construction company’s stock after selling 34 shares during the quarter. Wright Investors Service Inc.’s holdings in EMCOR Group were worth $382,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EME. Redwood Investment Management LLC bought a new stake in shares of EMCOR Group during the fourth quarter worth $1,417,000. Van ECK Associates Corp lifted its position in shares of EMCOR Group by 5.3% during the fourth quarter. Van ECK Associates Corp now owns 9,903 shares of the construction company’s stock worth $4,495,000 after purchasing an additional 502 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of EMCOR Group during the fourth quarter worth $1,192,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of EMCOR Group during the fourth quarter worth $7,091,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of EMCOR Group by 16.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 19,738 shares of the construction company’s stock worth $9,067,000 after purchasing an additional 2,770 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director now owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,197 shares of company stock worth $3,905,748 over the last three months. 0.83% of the stock is owned by corporate insiders.

EMCOR Group Price Performance

EME stock opened at $471.20 on Monday. The business has a 50-day moving average price of $413.49 and a 200 day moving average price of $441.37. The company has a market capitalization of $21.09 billion, a P/E ratio of 23.93 and a beta of 1.18. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

EMCOR Group (NYSE:EME) last released its quarterly earnings data 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. The firm had revenue of $3.87 billion during 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 firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.17 earnings per share. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its board has initiated 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their target price 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 investment 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 company currently has an average 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.