Corient Private Wealth LLC Cuts Position in EMCOR Group, Inc. (NYSE:EME)

Corient Private Wealth LLC decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,362 shares of the construction company’s stock after selling 462 shares during the quarter. Corient Private Wealth LLC’s holdings in EMCOR Group were worth $6,064,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. State Street Corp raised its position in EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after acquiring an additional 24,541 shares in the last quarter. Geode Capital Management LLC grew its holdings in EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after purchasing an additional 49,137 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after purchasing an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in EMCOR Group by 11.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after purchasing an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after purchasing an additional 88,074 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on EME shares. Northcoast Research started coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. Stifel Nicolaus lowered their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group started coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. Finally, StockNews.com lowered 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 company. According to MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Stock Down 1.1 %

EME opened at $395.11 on Friday. The firm has a market cap of $17.97 billion, a P/E ratio of 20.07 and a beta of 1.14. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The business’s fifty day simple moving average is $434.48 and its 200 day simple moving average is $449.53.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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.