Aviva PLC Reduces Stock Position in EMCOR Group, Inc. (NYSE:EME)

Posted by Defense World Staff on May 21st, 2023

Aviva PLC lowered its stake in EMCOR Group, Inc. (NYSE:EME – Get Rating) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,656 shares of the construction company’s stock after selling 6,659 shares during the quarter. Aviva PLC’s holdings in EMCOR Group were worth $986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Benjamin Edwards Inc. purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $31,000. Zions Bancorporation N.A. purchased a new stake in shares of EMCOR Group during the 1st quarter valued at about $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $37,000. Parkside Financial Bank & Trust increased its position in shares of EMCOR Group by 66.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of EMCOR Group during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

EMCOR Group Trading Down 1.1 %

EMCOR Group stock opened at $164.95 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.30. The firm’s 50 day moving average price is $160.99 and its 200-day moving average price is $154.48. EMCOR Group, Inc. has a 1 year low of $95.64 and a 1 year high of $174.05. The stock has a market cap of $7.87 billion, a P/E ratio of 18.13 and a beta of 1.09.

EMCOR Group (NYSE:EME – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The construction company reported $2.32 EPS for the quarter, topping the consensus estimate of $1.83 by $0.49. EMCOR Group had a net margin of 3.91% and a return on equity of 22.68%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that EMCOR Group, Inc. will post 9.74 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Monday, April 17th were given a dividend of $0.18 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, April 14th. EMCOR Group’s dividend payout ratio is currently 7.91%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. DA Davidson lifted their target price on EMCOR Group from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, February 24th. StockNews.com assumed coverage on EMCOR Group in a research report on Thursday. They set a “strong-buy” rating on the stock.

Insider Activity at EMCOR Group

In related news, CFO Mark A. Pompa sold 25,000 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $170.00, for a total value of $4,250,000.00. Following the completion of the transaction, the chief financial officer now owns 58,758 shares of the company’s stock, valued at approximately $9,988,860. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark A. Pompa sold 25,000 shares of EMCOR Group stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $170.00, for a total value of $4,250,000.00. Following the completion of the transaction, the chief financial officer now owns 58,758 shares in the company, valued at approximately $9,988,860. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP R Kevin Matz sold 13,462 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $165.46, for a total transaction of $2,227,422.52. Following the transaction, the executive vice president now owns 191,709 shares in the company, valued at approximately $31,720,171.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,462 shares of company stock valued at $8,298,143. 1.70% of the stock is owned by corporate insiders.

About EMCOR Group

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EMCOR Group, Inc engages in the provision of electrical and mechanical construction, and facilities services. It operates through the following segments: United States Electrical Construction and Facilities Services, United States Mechanical Construction and Facilities Services, United States Building Services, United States Industrial Services, and United Kingdom Building Services.