EMCOR Group, Inc. (NYSE:EME) Position Reduced by Strs Ohio

Strs Ohio reduced its position in EMCOR Group, Inc. (NYSE:EME) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,975 shares of the construction company’s stock after selling 4,816 shares during the period. Strs Ohio owned about 0.09% of EMCOR Group worth $9,258,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in EMCOR Group by 8.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,841 shares of the construction company’s stock valued at $2,120,000 after purchasing an additional 768 shares during the period. Lecap Asset Management Ltd. acquired a new stake in EMCOR Group in the 4th quarter worth approximately $1,055,000. Louisiana State Employees Retirement System bought a new stake in EMCOR Group during the fourth quarter worth approximately $2,844,000. WCM Investment Management LLC grew its holdings in EMCOR Group by 2.8% during the fourth quarter. WCM Investment Management LLC now owns 115,982 shares of the construction company’s stock valued at $25,078,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in shares of EMCOR Group in the fourth quarter valued at approximately $280,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.8 %

Shares of EMCOR Group stock opened at $339.15 on Thursday. EMCOR Group, Inc. has a 1 year low of $155.14 and a 1 year high of $369.53. The company’s fifty day simple moving average is $313.75 and its 200-day simple moving average is $248.75. The company has a market cap of $15.96 billion, a price-to-earnings ratio of 25.48 and a beta of 1.10.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.96. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business posted $2.63 EPS. As a group, research analysts forecast that EMCOR Group, Inc. will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.29%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio (DPR) is currently 7.51%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EME. DA Davidson reiterated a “buy” rating and issued a $375.00 target price on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp began coverage on EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

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.