Corient Private Wealth LLC Cuts Position in EMCOR Group, Inc. (NYSE:EME)

Corient Private Wealth LLC reduced its position in EMCOR Group, Inc. (NYSE:EME) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,362 shares of the construction company’s stock after selling 462 shares during the period. Corient Private Wealth LLC’s holdings in EMCOR Group were worth $6,064,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC boosted its position in EMCOR Group by 4.3% during the 3rd quarter. Pathstone Holdings LLC now owns 10,536 shares of the construction company’s stock worth $4,536,000 after purchasing an additional 439 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in EMCOR Group in the 3rd quarter valued at $503,000. Prospera Private Wealth LLC acquired a new stake in EMCOR Group in the 3rd quarter valued at $55,000. Commerce Bank increased its holdings in EMCOR Group by 225.0% in the 3rd quarter. Commerce Bank now owns 10,141 shares of the construction company’s stock valued at $4,366,000 after purchasing an additional 7,021 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in EMCOR Group by 13.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $395.11 on Friday. The business has a 50-day moving average of $434.48 and a 200-day moving average of $449.53. The company has a market capitalization of $17.97 billion, a PE ratio of 20.07 and a beta of 1.14. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

EMCOR Group Dividend Announcement

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

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

EME has been the subject of several recent research reports. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Northcoast Research initiated coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. Stifel Nicolaus lowered their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Company 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.