Summit Global Investments Trims Stock Position in EMCOR Group, Inc. (NYSE:EME)

Summit Global Investments trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,048 shares of the construction company's stock after selling 1,773 shares during the quarter. Summit Global Investments' holdings in EMCOR Group were worth $4,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in shares of EMCOR Group during the fourth quarter worth about $251,000. Oxford Financial Group LTD. LLC purchased a new position in EMCOR Group in the 4th quarter worth approximately $1,094,000. Semanteon Capital Management LP raised its position in shares of EMCOR Group by 10.5% during the 4th quarter. Semanteon Capital Management LP now owns 3,147 shares of the construction company's stock valued at $1,428,000 after buying an additional 300 shares in the last quarter. Holderness Investments Co. lifted its holdings in shares of EMCOR Group by 25.8% during the 4th quarter. Holderness Investments Co. now owns 2,163 shares of the construction company's stock worth $982,000 after acquiring an additional 444 shares during the last quarter. Finally, Whittier Trust Co. grew its position in 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 in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction dated 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 owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by company insiders.

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EMCOR Group Price Performance

EMCOR Group stock traded down $20.22 during mid-day trading on Wednesday, hitting $392.06. The company's stock had a trading volume of 296,562 shares, compared to its average volume of 432,290. The business has a 50 day moving average price of $431.76 and a 200-day moving average price of $451.66. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of 19.91 and a beta of 1.14.

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 for the quarter, beating the consensus estimate of $5.53 by $0.79. The company 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, equities research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lowered their price target on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. StockNews.com lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.