First Horizon Advisors Inc. trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME – Get Rating) by 65.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 357 shares of the construction company’s stock after selling 677 shares during the period. First Horizon Advisors Inc.’s holdings in EMCOR Group were worth $45,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC purchased a new position in EMCOR Group during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. grew its position in EMCOR Group by 276.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 267 shares of the construction company’s stock worth $34,000 after purchasing an additional 196 shares in the last quarter. Kings Point Capital Management purchased a new position in EMCOR Group during the 3rd quarter worth approximately $61,000. MUFG Americas Holdings Corp grew its position in EMCOR Group by 87.6% during the 4th quarter. MUFG Americas Holdings Corp now owns 709 shares of the construction company’s stock worth $90,000 after purchasing an additional 331 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its position in EMCOR Group by 100.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 922 shares of the construction company’s stock worth $106,000 after purchasing an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 94.36% of the company’s stock.
Several research firms have weighed in on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 2nd. DA Davidson upgraded shares of EMCOR Group from a “neutral” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Friday, February 25th. Finally, Zacks Investment Research upgraded shares of EMCOR Group from a “sell” rating to a “hold” rating and set a $118.00 price target on the stock in a report on Wednesday, March 9th.
EMCOR Group (NYSE:EME – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The construction company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.17). The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.46 billion. EMCOR Group had a return on equity of 17.26% and a net margin of 3.65%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share. On average, equities research analysts expect that EMCOR Group, Inc. will post 7.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Monday, April 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Thursday, April 14th. EMCOR Group’s dividend payout ratio is presently 7.53%.
In related news, CEO Anthony Guzzi sold 1,381 shares of the company’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $120.00, for a total value of $165,720.00. Following the completion of the sale, the chief executive officer now directly owns 291,256 shares in the company, valued at $34,950,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.
About EMCOR Group (Get Rating)
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, starts-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; 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.
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