Martingale Asset Management L P Sells 6,837 Shares of EMCOR Group, Inc. (NYSE:EME)

Martingale Asset Management L P lowered its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,768 shares of the construction company's stock after selling 6,837 shares during the quarter. Martingale Asset Management L P owned 0.12% of EMCOR Group worth $24,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of EMCOR Group during the fourth quarter worth $45,000. SJS Investment Consulting Inc. lifted its holdings in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after buying an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after buying an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of EMCOR Group during the fourth quarter worth about $126,000. Finally, Whittier Trust Co. lifted its stake in shares of EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company's stock worth $127,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction that occurred 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 directly owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EME. Stifel Nicolaus lowered their price target on shares of 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 research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $497.25.

EMCOR Group Stock Down 0.4 %

NYSE:EME traded down $1.44 during trading hours on Monday, reaching $382.29. The company had a trading volume of 56,231 shares, compared to its average volume of 544,815. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.29. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 19.42 and a beta of 1.08. The business's 50-day simple moving average is $398.04 and its two-hundred day simple moving average is $447.40.

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

EMCOR Group announced that its board has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid 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 is Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is 4.64%.

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.