Strategy Asset Managers LLC Sells 203 Shares of EMCOR Group, Inc. (NYSE:EME)

Strategy Asset Managers LLC lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 22.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 685 shares of the construction company’s stock after selling 203 shares during the quarter. Strategy Asset Managers LLC’s holdings in EMCOR Group were worth $311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EME. State Street Corp boosted its holdings in EMCOR Group by 1.5% during the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its holdings in EMCOR Group by 5.2% during the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after purchasing an additional 49,137 shares during the last quarter. Norges Bank bought a new stake in EMCOR Group in the 4th quarter worth about $299,855,000. Allspring Global Investments Holdings LLC increased its stake in EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after buying an additional 75,578 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of EMCOR Group by 11.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after buying an additional 34,226 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Down 2.1 %

Shares of EME stock opened at $371.22 on Friday. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The company has a 50 day moving average of $424.19 and a 200-day moving average of $451.35. The firm has a market cap of $16.88 billion, a P/E ratio of 18.85 and a beta of 1.14.

EMCOR Group (NYSE:EME) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.79. The firm 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 year.

EMCOR Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. EMCOR Group’s payout ratio is 4.64%.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

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.