Axxcess Wealth Management LLC Cuts Stake in EMCOR Group, Inc. (NYSE:EME)

Axxcess Wealth Management LLC reduced its position in EMCOR Group, Inc. (NYSE:EME) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 892 shares of the construction company’s stock after selling 152 shares during the quarter. Axxcess Wealth Management LLC’s holdings in EMCOR Group were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CreativeOne Wealth LLC purchased a new position in EMCOR Group in the first quarter worth $330,000. Delap Wealth Advisory LLC purchased a new position in EMCOR Group in the first quarter worth $204,000. Pitcairn Co. purchased a new position in EMCOR Group in the first quarter worth $789,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of EMCOR Group by 20.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 32,643 shares of the construction company’s stock worth $11,437,000 after buying an additional 5,633 shares during the period. Finally, Burgundy Asset Management Ltd. grew its holdings in shares of EMCOR Group by 1.7% during the first quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock valued at $242,122,000 after buying an additional 11,479 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

Shares of EME opened at $364.05 on Friday. The firm has a market capitalization of $17.11 billion, a PE ratio of 24.01 and a beta of 1.06. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $401.98. The company’s fifty day moving average price is $376.71 and its 200-day moving average price is $330.81.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.50 by $1.75. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Monday, July 15th. EMCOR Group’s payout ratio is 6.60%.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group 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 $6,289,683.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson boosted their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday.

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.