NewEdge Wealth LLC Has $4.33 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

NewEdge Wealth LLC lowered its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 59.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,534 shares of the construction company's stock after selling 13,920 shares during the period. NewEdge Wealth LLC's holdings in EMCOR Group were worth $4,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EME. Koshinski Asset Management Inc. increased its holdings in shares of EMCOR Group by 4.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company's stock valued at $298,000 after buying an additional 26 shares in the last quarter. Cumberland Partners Ltd raised its position in shares of EMCOR Group by 60.0% during the third quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company's stock worth $1,722,000 after purchasing an additional 1,500 shares during the period. Wolff Wiese Magana LLC lifted its holdings in shares of EMCOR Group by 3,510.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company's stock valued at $311,000 after purchasing an additional 667 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of EMCOR Group by 173.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company's stock valued at $23,473,000 after purchasing an additional 34,553 shares during the period. Finally, Independent Advisor Alliance increased its stake in EMCOR Group by 25.0% in the 3rd quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company's stock worth $2,261,000 after purchasing an additional 1,049 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE EME traded down $13.18 during mid-day trading on Monday, reaching $395.73. The company had a trading volume of 560,345 shares, compared to its average volume of 517,307. EMCOR Group, Inc. has a twelve month low of $313.48 and a twelve month high of $545.29. The stock's 50 day moving average is $458.38 and its 200-day moving average is $449.73. The stock has a market capitalization of $18.00 billion, a PE ratio of 20.10 and a beta of 1.11.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.53 by $0.79. The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has approved a stock buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group's dividend payout ratio is currently 4.64%.

Analyst Upgrades and Downgrades

A number of research firms have commented on EME. StockNews.com lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Northcoast Research started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a "buy" rating and a $600.00 price target for the company. Stifel Nicolaus lowered their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a report on Friday, November 22nd. They issued a "sell" rating and a $445.00 target price for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $497.25.

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.