Wolff Wiese Magana LLC Sells 330 Shares of EMCOR Group, Inc. (NYSE:EME)

Wolff Wiese Magana LLC reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 48.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 356 shares of the construction company’s stock after selling 330 shares during the quarter. Wolff Wiese Magana LLC’s holdings in EMCOR Group were worth $132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EME. Norges Bank bought a new position in shares of EMCOR Group during the 4th quarter valued at approximately $299,855,000. GAMMA Investing LLC boosted its position in shares of EMCOR Group by 49,775.5% during the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company’s stock valued at $138,266,000 after acquiring an additional 373,316 shares during the last quarter. Invesco Ltd. boosted its position in shares of EMCOR Group by 28.0% during the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock valued at $598,465,000 after acquiring an additional 288,765 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of EMCOR Group by 94.2% during the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company’s stock valued at $139,349,000 after acquiring an additional 148,915 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock valued at $225,332,000 after acquiring an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Down 0.0%

Shares of EME opened at $485.19 on Friday. The company has a market cap of $21.72 billion, a PE ratio of 21.44 and a beta of 1.23. The business has a fifty day moving average of $446.14 and a 200 day moving average of $438.70. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08.

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, topping analysts’ consensus estimates of $4.57 by $0.84. The company 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 37.12% and a net margin of 7.00%. EMCOR Group’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $4.17 earnings per share. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its board has authorized a share repurchase program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding 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 typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a $0.25 dividend. 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%.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the 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 in the company, valued at $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction on 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 approximately $91,125,473.67. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on EME shares. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. UBS Group started coverage on EMCOR Group in a research report on Friday, June 13th. They set a “buy” rating and a $570.00 target price for the company. Finally, Stifel Nicolaus lowered their price target 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 research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $509.60.

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.