EMCOR Group, Inc. $EME Shares Sold by Cim LLC

Cim LLC lessened its stake in EMCOR Group, Inc. (NYSE:EME) by 8.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 30,021 shares of the construction company’s stock after selling 2,919 shares during the quarter. EMCOR Group makes up approximately 3.2% of Cim LLC’s investment portfolio, making the stock its 4th largest position. Cim LLC’s holdings in EMCOR Group were worth $22,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ascentis Independent Advisors acquired a new position in EMCOR Group during the first quarter worth $27,000. Swiss RE Ltd. bought a new position in shares of EMCOR Group in the 4th quarter valued at about $25,000. Zions Bancorporation National Association UT bought a new position in shares of EMCOR Group in the 4th quarter valued at about $28,000. Activest Wealth Management grew its position in shares of EMCOR Group by 800.0% in the 4th quarter. Activest Wealth Management now owns 54 shares of the construction company’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in shares of EMCOR Group by 71.9% during the 4th quarter. Richardson Financial Services Inc. now owns 55 shares of the construction company’s stock worth $34,000 after purchasing an additional 23 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director William P. Reid sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $925.78, for a total transaction of $1,851,560.00. Following the completion of the sale, the director owned 10,149 shares of the company’s stock, valued at $9,395,741.22. This represents a 16.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carol P. Lowe sold 950 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total transaction of $802,275.00. Following the sale, the director owned 17,278 shares in the company, valued at $14,591,271. The trade was a 5.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is currently owned by company insiders.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $671.68 on Thursday. The business’s 50 day simple moving average is $803.03 and its 200 day simple moving average is $786.60. EMCOR Group, Inc. has a 1 year low of $564.92 and a 1 year high of $951.96. The company has a market capitalization of $29.85 billion, a P/E ratio of 22.53 and a beta of 1.13.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $5.90 by $0.94. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.20 billion. EMCOR Group had a return on equity of 35.19% and a net margin of 7.54%.The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.41 EPS. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 29.37 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, July 15th. EMCOR Group’s dividend payout ratio is 5.37%.

Wall Street Analyst Weigh In

EME has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Friday, July 17th. Stifel Nicolaus set a $918.00 price target on EMCOR Group in a report on Thursday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,123.00 price target on shares of EMCOR Group in a research report on Tuesday, June 16th. Zacks Research raised EMCOR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded EMCOR Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $871.25.

EMCOR Group Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.