EMCOR Group, Inc. (NYSE:EME) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 24.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,385 shares of the construction company's stock after selling 65,983 shares during the quarter. Legal & General Group Plc owned about 0.45% of EMCOR Group worth $94,132,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EME. Invesco Ltd. grew its holdings in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after purchasing an additional 288,765 shares in the last quarter. Bank of Montreal Can grew its stake in shares of EMCOR Group by 44.2% in the 4th quarter. Bank of Montreal Can now owns 17,681 shares of the construction company's stock worth $8,025,000 after buying an additional 5,420 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in shares of EMCOR Group in the 4th quarter worth about $230,000. Sierra Summit Advisors LLC purchased a new stake in shares of EMCOR Group during the 4th quarter valued at about $5,551,000. Finally, Benchmark Investment Advisors LLC bought a new position in shares of EMCOR Group in the 4th quarter valued at about $2,306,000. Institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

EME has been the topic of several analyst reports. Stifel Nicolaus reduced their price objective on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $497.25.

EMCOR Group Trading Down 0.0 %

Shares of NYSE EME traded down $0.02 during mid-day trading on Thursday, reaching $382.13. The company had a trading volume of 87,918 shares, compared to its average volume of 464,527. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 19.35 and a beta of 1.08. The business's 50-day moving average is $393.53 and its 200-day moving average is $446.28. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group's dividend payout ratio is presently 4.64%.

EMCOR Group declared that its board has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.26% of the company's stock.

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.