Envestnet Asset Management Inc. Has $79.10 Million Position in EMCOR Group, Inc. (NYSE:EME)

Envestnet Asset Management Inc. trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 174,259 shares of the construction company's stock after selling 11,538 shares during the period. Envestnet Asset Management Inc. owned approximately 0.38% of EMCOR Group worth $79,096,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in EME. Koshinski Asset Management Inc. lifted its stake in EMCOR Group by 4.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company's stock worth $298,000 after purchasing an additional 26 shares during the period. Wolff Wiese Magana LLC lifted its position in shares of EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company's stock worth $311,000 after buying an additional 667 shares during the period. PFW Advisors LLC acquired a new stake in EMCOR Group in the 4th quarter valued at $689,000. Central Pacific Bank Trust Division boosted its stake in EMCOR Group by 382.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,833 shares of the construction company's stock valued at $832,000 after buying an additional 1,453 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in EMCOR Group by 108.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,389 shares of the construction company's stock valued at $7,439,000 after acquiring an additional 8,545 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.26% of the company's stock.

EMCOR Group Price Performance

Shares of NYSE:EME traded up $2.17 during midday trading on Monday, reaching $385.90. The company's stock had a trading volume of 40,621 shares, compared to its average volume of 544,593. The company has a market capitalization of $17.55 billion, a P/E ratio of 19.60 and a beta of 1.08. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.29. The business's fifty day simple moving average is $398.04 and its 200-day simple moving average is $447.40.

EMCOR Group (NYSE:EME - Get Free Report) last released 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.81 billion. On average, analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EME. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus reduced their price target 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, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat, EMCOR Group currently has an average rating of "Moderate Buy" and an average target price of $497.25.

EMCOR Group Company 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.