Congress Asset Management Co. MA Sells 1,169 Shares of EMCOR Group, Inc. (NYSE:EME)

Congress Asset Management Co. MA lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 624,459 shares of the construction company’s stock after selling 1,169 shares during the period. EMCOR Group comprises approximately 1.1% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 24th biggest holding. Congress Asset Management Co. MA owned approximately 1.33% of EMCOR Group worth $134,527,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its holdings in shares of EMCOR Group by 103.6% in the third quarter. Canada Pension Plan Investment Board now owns 11,200 shares of the construction company’s stock valued at $2,356,000 after acquiring an additional 5,700 shares in the last quarter. UBS Group AG lifted its position in shares of EMCOR Group by 59.7% in the 3rd quarter. UBS Group AG now owns 90,824 shares of the construction company’s stock worth $19,108,000 after purchasing an additional 33,947 shares during the period. Blair William & Co. IL bought a new position in shares of EMCOR Group during the third quarter valued at approximately $248,000. Paralel Advisors LLC increased its holdings in EMCOR Group by 1.2% during the third quarter. Paralel Advisors LLC now owns 11,763 shares of the construction company’s stock valued at $2,475,000 after buying an additional 135 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in EMCOR Group during the third quarter valued at about $135,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson restated a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Price Performance

NYSE:EME traded down $12.94 during trading hours on Friday, hitting $377.20. 336,883 shares of the company were exchanged, compared to its average volume of 639,401. The company’s 50 day moving average price is $368.89 and its 200-day moving average price is $297.94. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 24.88 and a beta of 1.08. EMCOR Group, Inc. has a 52-week low of $173.20 and a 52-week high of $401.98.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The firm had revenue of $3.43 billion for the quarter. On average, equities analysts predict that EMCOR Group, Inc. will post 16.1 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued a dividend of $0.25 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. EMCOR Group’s payout ratio is 6.60%.

Insider Activity at EMCOR Group

In other news, Director Carol P. Lowe sold 1,245 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $374.23, for a total value of $465,916.35. Following the sale, the director now directly owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by insiders.

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.