HighTower Advisors LLC trimmed its position in EMCOR Group, Inc. (NYSE:EME – Get Rating) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,121 shares of the construction company’s stock after selling 1,208 shares during the quarter. HighTower Advisors LLC’s holdings in EMCOR Group were worth $2,977,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in EME. Zions Bancorporation N.A. acquired a new position in shares of EMCOR Group in the first quarter worth about $26,000. Parkside Financial Bank & Trust boosted its holdings in shares of EMCOR Group by 66.2% in the first quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock worth $28,000 after buying an additional 100 shares during the period. Benjamin Edwards Inc. acquired a new position in shares of EMCOR Group in the fourth quarter worth about $31,000. Brown Brothers Harriman & Co. acquired a new position in shares of EMCOR Group in the first quarter worth about $35,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of EMCOR Group in the fourth quarter worth about $37,000. 93.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at EMCOR Group
In other news, CEO Anthony Guzzi sold 11,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $165.52, for a total value of $1,820,720.00. Following the sale, the chief executive officer now owns 257,655 shares in the company, valued at $42,647,055.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other EMCOR Group news, CEO Anthony Guzzi sold 11,000 shares of EMCOR Group stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $165.52, for a total transaction of $1,820,720.00. Following the sale, the chief executive officer now owns 257,655 shares in the company, valued at $42,647,055.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark A. Pompa sold 25,000 shares of EMCOR Group stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $170.00, for a total transaction of $4,250,000.00. Following the sale, the chief financial officer now owns 58,758 shares in the company, valued at approximately $9,988,860. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,462 shares of company stock worth $8,298,143. Insiders own 1.70% of the company’s stock.
EMCOR Group Price Performance
EMCOR Group (NYSE:EME – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The construction company reported $2.32 EPS for the quarter, beating the consensus estimate of $1.83 by $0.49. EMCOR Group had a return on equity of 22.68% and a net margin of 3.91%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts expect that EMCOR Group, Inc. will post 9.74 EPS for the current fiscal year.
EMCOR Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Monday, April 17th were paid a $0.18 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, April 14th. This represents a $0.72 annualized dividend and a dividend yield of 0.44%. EMCOR Group’s dividend payout ratio (DPR) is presently 7.91%.
Analysts Set New Price Targets
EME has been the subject of a number of research analyst reports. DA Davidson increased their price target on shares of EMCOR Group from $165.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. StockNews.com initiated coverage on shares of EMCOR Group in a research report on Thursday. They issued a “strong-buy” rating for the company.
EMCOR Group Company Profile
EMCOR Group, Inc engages in the provision of electrical and mechanical construction, and facilities services. It operates through the following segments: United States Electrical Construction and Facilities Services, United States Mechanical Construction and Facilities Services, United States Building Services, United States Industrial Services, and United Kingdom Building Services.
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