EMCOR Group, Inc. (NYSE:EME) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP decreased its position in EMCOR Group, Inc. (NYSE:EME) by 19.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,071 shares of the construction company’s stock after selling 500 shares during the quarter. Mission Wealth Management LP’s holdings in EMCOR Group were worth $940,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EME. True Wealth Design LLC lifted its stake in EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of EMCOR Group in the 3rd quarter valued at about $55,000. Harbor Capital Advisors Inc. bought a new stake in shares of EMCOR Group during the 3rd quarter valued at about $62,000. Finally, Rakuten Securities Inc. raised its stake in EMCOR Group by 4,025.0% during the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after acquiring an additional 161 shares during the period. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Trading Down 1.9 %

Shares of NYSE EME opened at $388.31 on Wednesday. EMCOR Group, Inc. has a 12-month low of $313.48 and a 12-month high of $545.29. The company has a market cap of $17.66 billion, a PE ratio of 19.72 and a beta of 1.11. The stock has a 50 day simple moving average of $455.52 and a 200-day simple moving average of $450.05.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. Sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on EME. The Goldman Sachs Group began coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. Northcoast Research assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective for the company. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus reduced their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $497.25.

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.