EMCOR Group, Inc. (NYSE:EME) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in EMCOR Group, Inc. (NYSE:EME) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,047 shares of the construction company’s stock after selling 441 shares during the period. M&T Bank Corp’s holdings in EMCOR Group were worth $756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EME. Continuum Advisory LLC lifted its stake in shares of EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock valued at $38,000 after purchasing an additional 29 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $40,000. Summit Securities Group LLC purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $45,000. Park Square Financial Group LLC purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $48,000. Finally, True Wealth Design LLC raised its holdings in shares of EMCOR Group by 24.3% during the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock valued at $60,000 after buying an additional 26 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on EME. William Blair began coverage on EMCOR Group in a report on Friday, June 27th. They set an “outperform” rating on the stock. Hovde Group upgraded EMCOR Group to a “hold” rating in a report on Friday, June 27th. Jefferies Financial Group began coverage on EMCOR Group in a report on Friday, June 27th. They set a “buy” rating on the stock. Stifel Nicolaus raised their target price on EMCOR Group from $503.00 to $597.00 and gave the company a “buy” rating in a report on Friday. Finally, Baird R W upgraded EMCOR Group to a “strong-buy” rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $532.00.

EMCOR Group Price Performance

EME stock opened at $557.27 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $560.01. The stock’s 50 day moving average is $487.57 and its two-hundred day moving average is $444.27. The company has a market capitalization of $24.94 billion, a PE ratio of 24.63 and a beta of 1.24.

EMCOR Group (NYSE:EME) last issued its earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping the consensus estimate of $4.57 by $0.84. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.17 EPS. Analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a $0.25 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. EMCOR Group’s payout ratio is 4.42%.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the transaction, the chief executive officer owned 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the transaction, the director owned 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

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.