CCM Investment Advisers LLC Has $12.27 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

CCM Investment Advisers LLC boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 4.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,194 shares of the construction company’s stock after purchasing an additional 1,504 shares during the period. CCM Investment Advisers LLC’s holdings in EMCOR Group were worth $12,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Stratos Wealth Partners LTD. acquired a new stake in EMCOR Group in the 4th quarter worth $211,000. Van ECK Associates Corp raised its holdings in EMCOR Group by 5.3% in the 4th quarter. Van ECK Associates Corp now owns 9,903 shares of the construction company’s stock valued at $4,495,000 after acquiring an additional 502 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of EMCOR Group by 16.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 19,738 shares of the construction company’s stock worth $9,067,000 after acquiring an additional 2,770 shares during the period. Arcus Capital Partners LLC grew its holdings in shares of EMCOR Group by 21.8% during the 4th quarter. Arcus Capital Partners LLC now owns 1,071 shares of the construction company’s stock worth $486,000 after purchasing an additional 192 shares in the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $3,961,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EME shares. UBS Group assumed coverage on EMCOR Group in a research note on Friday. They issued a “buy” rating and a $570.00 price objective on the stock. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, 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 report on Thursday, May 1st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $509.60.

EMCOR Group Trading Up 0.7%

NYSE:EME opened at $475.33 on Friday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The stock has a market capitalization of $21.27 billion, a P/E ratio of 24.14 and a beta of 1.23. The firm has a 50 day moving average of $430.61 and a 200-day moving average of $440.55.

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

EMCOR Group Dividend Announcement

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

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

Insider Buying and Selling

In other news, CEO Anthony Guzzi sold 7,000 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 208,989 shares in the company, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was 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 $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

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.