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

Portside Wealth Group LLC lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 902 shares of the construction company’s stock after selling 26 shares during the quarter. Portside Wealth Group LLC’s holdings in EMCOR Group were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wesbanco Bank Inc. boosted its position in shares of EMCOR Group by 3.6% during the 1st quarter. Wesbanco Bank Inc. now owns 1,636 shares of the construction company’s stock valued at $605,000 after acquiring an additional 57 shares during the last quarter. Tilia Fiduciary Partners Inc. purchased a new stake in EMCOR Group in the 1st quarter valued at about $1,495,000. Wedge Capital Management L L P NC increased its stake in EMCOR Group by 16.7% during the first quarter. Wedge Capital Management L L P NC now owns 38,914 shares of the construction company’s stock worth $14,384,000 after purchasing an additional 5,579 shares during the period. Washington Capital Management Inc. purchased a new stake in EMCOR Group during the first quarter worth about $296,000. Finally, RDA Financial Network increased its stake in EMCOR Group by 5.9% during the first quarter. RDA Financial Network now owns 721 shares of the construction company’s stock worth $267,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the sale, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the transaction, the director now directly owns 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,197 shares of company stock worth $3,905,748. 1.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EME has been the subject of a number of analyst reports. Stifel Nicolaus lowered 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. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and a consensus price target of $494.50.

EMCOR Group Price Performance

Shares of NYSE EME opened at $466.18 on Wednesday. The stock has a fifty day moving average price of $428.01 and a 200 day moving average price of $440.33. The company has a market cap of $20.87 billion, a PE ratio of 23.68 and a beta of 1.23. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

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

EMCOR Group declared that its Board of Directors has initiated a share buyback 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 repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given 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 was Thursday, April 17th. EMCOR Group’s dividend payout ratio is presently 4.42%.

EMCOR Group 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.