DekaBank Deutsche Girozentrale Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

DekaBank Deutsche Girozentrale lowered its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,084 shares of the construction company’s stock after selling 3,648 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in EMCOR Group were worth $3,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of EMCOR Group by 10.7% in the 4th quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock valued at $21,880,000 after purchasing an additional 9,752 shares during the last quarter. FMR LLC lifted its stake in shares of EMCOR Group by 7.3% in the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock valued at $747,239,000 after purchasing an additional 241,920 shares during the last quarter. Earnest Partners LLC bought a new stake in shares of EMCOR Group in the 3rd quarter valued at approximately $2,212,000. QRG Capital Management Inc. bought a new stake in shares of EMCOR Group in the 3rd quarter valued at approximately $444,000. Finally, Los Angeles Capital Management LLC lifted its stake in shares of EMCOR Group by 24.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 369,886 shares of the construction company’s stock valued at $77,820,000 after purchasing an additional 73,660 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME stock opened at $352.02 on Friday. EMCOR Group, Inc. has a 52-week low of $154.00 and a 52-week high of $369.53. The firm has a market capitalization of $16.57 billion, a P/E ratio of 26.45 and a beta of 1.10. The stock has a 50 day moving average price of $306.97 and a 200 day moving average price of $245.37.

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

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, April 15th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. EMCOR Group’s payout ratio is 5.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp began coverage on EMCOR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. DA Davidson reissued a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a research note on Friday, March 22nd.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate 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.