New York Life Investment Management LLC Has $1.07 Million Holdings in EMCOR Group, Inc. (NYSE:EME)

New York Life Investment Management LLC trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 4,944 shares of the construction company’s stock after selling 70 shares during the period. New York Life Investment Management LLC’s holdings in EMCOR Group were worth $1,065,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its position in EMCOR Group by 7.3% during the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock worth $747,239,000 after buying an additional 241,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of EMCOR Group by 41.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company’s stock worth $224,813,000 after purchasing an additional 310,718 shares in the last quarter. Invesco Ltd. lifted its position in shares of EMCOR Group by 40.1% during the third quarter. Invesco Ltd. now owns 919,304 shares of the construction company’s stock worth $193,412,000 after purchasing an additional 263,330 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of EMCOR Group by 1.2% during the third quarter. Burgundy Asset Management Ltd. now owns 654,661 shares of the construction company’s stock valued at $137,734,000 after purchasing an additional 7,953 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of EMCOR Group by 30.2% in the third quarter. AQR Capital Management LLC now owns 426,706 shares of the construction company’s stock valued at $89,775,000 after purchasing an additional 98,989 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at approximately $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $375.46 on Wednesday. The company has a 50 day moving average of $342.89 and a 200-day moving average of $264.28. EMCOR Group, Inc. has a one year low of $161.49 and a one year high of $377.80. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 24.77 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, beating the consensus estimate of $2.92 by $1.25. The company had revenue of $3.43 billion during the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. Equities research analysts anticipate that EMCOR Group, Inc. will post 16.1 earnings per share for the current year.

EMCOR Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

EMCOR Group Profile

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.