EMCOR Group, Inc. (NYSE:EME) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 65,153 shares of the construction company’s stock after selling 9,267 shares during the period. Wedge Capital Management L L P NC’s holdings in EMCOR Group were worth $14,036,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EME. Allworth Financial LP raised its stake in shares of EMCOR Group by 83.8% in the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after acquiring an additional 62 shares during the period. Arlington Trust Co LLC purchased a new position in EMCOR Group in the 3rd quarter worth approximately $35,000. CVA Family Office LLC acquired a new stake in EMCOR Group in the fourth quarter valued at approximately $39,000. Cullen Frost Bankers Inc. purchased a new stake in shares of EMCOR Group during the third quarter valued at approximately $42,000. Finally, Lindbrook Capital LLC lifted its position in shares of EMCOR Group by 32.5% during the fourth quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock worth $45,000 after purchasing an additional 51 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KeyCorp initiated coverage on EMCOR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson restated a “buy” rating and set a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd.

Insider Activity at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the sale, the chief executive officer now owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded up $4.63 during trading hours on Tuesday, reaching $337.22. The company’s stock had a trading volume of 49,051 shares, compared to its average volume of 413,903. The stock has a market cap of $15.87 billion, a P/E ratio of 25.01 and a beta of 1.10. EMCOR Group, Inc. has a one year low of $155.46 and a one year high of $369.53. The company’s 50 day simple moving average is $321.10 and its 200 day simple moving average is $252.39.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the firm posted $2.63 EPS. EMCOR Group’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that EMCOR Group, Inc. will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a $0.25 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, April 15th. EMCOR Group’s payout ratio is presently 7.51%.

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.