Precision Wealth Strategies LLC Sells 182 Shares of EMCOR Group, Inc. (NYSE:EME)

Precision Wealth Strategies LLC reduced its stake in EMCOR Group, Inc. (NYSE:EME) by 14.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052 shares of the construction company’s stock after selling 182 shares during the period. Precision Wealth Strategies LLC’s holdings in EMCOR Group were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EME. Continuum Advisory LLC boosted its stake in shares of EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock valued at $38,000 after purchasing an additional 29 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in EMCOR Group during the fourth quarter valued at approximately $40,000. Summit Securities Group LLC purchased a new stake in EMCOR Group during the fourth quarter valued at approximately $45,000. Park Square Financial Group LLC purchased a new stake in EMCOR Group during the fourth quarter valued at approximately $48,000. Finally, True Wealth Design LLC lifted its position in EMCOR Group by 24.3% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock valued at $60,000 after acquiring an additional 26 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EME. Stifel Nicolaus decreased 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 cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, UBS Group began coverage on shares of EMCOR Group in a research report on Friday. They set a “buy” rating and a $570.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and an average target price of $509.60.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 208,989 shares of the company’s stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the transaction, the director now directly owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.83% of the company’s stock.

EMCOR Group Trading Up 0.5%

NYSE EME opened at $477.30 on Monday. The company has a fifty day simple moving average of $435.60 and a two-hundred day simple moving average of $439.09. The stock has a market cap of $21.36 billion, a P/E ratio of 24.24 and a beta of 1.23. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30.

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

EMCOR Group Dividend Announcement

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

EMCOR Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.