Envestnet Portfolio Solutions Inc. Lowers Holdings in EMCOR Group, Inc. (NYSE:EME)

Envestnet Portfolio Solutions Inc. cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,689 shares of the construction company's stock after selling 813 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in EMCOR Group were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathstone Holdings LLC boosted its holdings in EMCOR Group by 4.3% during the 3rd quarter. Pathstone Holdings LLC now owns 10,536 shares of the construction company's stock valued at $4,536,000 after acquiring an additional 439 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of EMCOR Group in the 3rd quarter worth about $503,000. Prospera Private Wealth LLC purchased a new position in shares of EMCOR Group during the third quarter valued at approximately $55,000. Commerce Bank raised its stake in EMCOR Group by 225.0% during the third quarter. Commerce Bank now owns 10,141 shares of the construction company's stock valued at $4,366,000 after buying an additional 7,021 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in EMCOR Group by 13.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock worth $101,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Performance

EME traded down $20.22 during trading on Wednesday, reaching $392.06. 296,561 shares of the company traded hands, compared to its average volume of 432,290. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The firm has a fifty day simple moving average of $431.76 and a 200 day simple moving average of $451.66. The company has a market cap of $17.83 billion, a P/E ratio of 19.91 and a beta of 1.14.

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

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Thursday, January 16th. EMCOR Group's dividend payout ratio (DPR) is 4.64%.

EMCOR Group declared that its Board of Directors has initiated a share repurchase 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 an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm's 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 transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.26% of the stock is owned by insiders.

About EMCOR Group

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.