The Manufacturers Life Insurance Company Sells 12,994 Shares of EMCOR Group, Inc. (NYSE:EME)

The Manufacturers Life Insurance Company cut its stake in shares of EMCOR Group, Inc. (NYSE:EMEFree Report) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 216,567 shares of the construction company’s stock after selling 12,994 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.46% of EMCOR Group worth $46,655,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AXS Investments LLC lifted its holdings in shares of EMCOR Group by 238.7% during the fourth quarter. AXS Investments LLC now owns 4,200 shares of the construction company’s stock valued at $905,000 after acquiring an additional 2,960 shares during the period. Nordea Investment Management AB raised its holdings in shares of EMCOR Group by 10.7% in the fourth quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock valued at $21,880,000 after buying an additional 9,752 shares during the last quarter. Norges Bank bought a new position in shares of EMCOR Group in the fourth quarter valued at about $153,739,000. Jump Financial LLC raised its holdings in shares of EMCOR Group by 489.6% in the fourth quarter. Jump Financial LLC now owns 11,433 shares of the construction company’s stock valued at $2,463,000 after buying an additional 9,494 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of EMCOR Group in the fourth quarter valued at about $1,402,000. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson reaffirmed a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

Get Our Latest Stock Report on EME

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction dated 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 sale, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Up 2.5 %

EMCOR Group stock opened at $378.14 on Thursday. The stock has a 50-day simple moving average of $365.77 and a 200 day simple moving average of $289.93. EMCOR Group, Inc. has a 12-month low of $170.10 and a 12-month high of $401.98. The stock has a market capitalization of $17.77 billion, a price-to-earnings ratio of 24.94 and a beta of 1.08.

EMCOR Group (NYSE:EMEGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $1.25. The firm had revenue of $3.43 billion during the quarter. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. As a group, sell-side analysts anticipate that EMCOR Group, Inc. will post 16.1 EPS for the current year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

EMCOR Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for EMCOR Group (NYSE:EME)

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