Congress Asset Management Co. Sells 24,414 Shares of EMCOR Group, Inc. (NYSE:EME)

Congress Asset Management Co. decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 285,689 shares of the construction company’s stock after selling 24,414 shares during the period. Congress Asset Management Co.’s holdings in EMCOR Group were worth $105,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. acquired a new stake in shares of EMCOR Group during the fourth quarter worth approximately $211,000. Measured Wealth Private Client Group LLC increased its holdings in shares of EMCOR Group by 36.5% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 1,496 shares of the construction company’s stock worth $679,000 after buying an additional 400 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new stake in shares of EMCOR Group during the fourth quarter worth approximately $2,166,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of EMCOR Group by 1.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 104,201 shares of the construction company’s stock worth $47,297,000 after buying an additional 1,447 shares in the last quarter. Finally, Vest Financial LLC increased its holdings in shares of EMCOR Group by 52.6% during the fourth quarter. Vest Financial LLC now owns 5,264 shares of the construction company’s stock worth $2,389,000 after buying an additional 1,815 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Up 1.2%

NYSE EME opened at $490.11 on Friday. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 24.89 and a beta of 1.23. The company has a 50 day moving average of $424.01 and a 200-day moving average of $441.49. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates of $4.57 by $0.84. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. EMCOR Group’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.17 earnings per share. On average, analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio is currently 4.42%.

EMCOR Group announced that its Board of Directors has authorized a share 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 buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $494.50.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the sale, the chief executive officer now owns 208,989 shares of the company’s stock, valued at $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,197 shares of company stock valued at $3,905,748 over the last quarter. Corporate insiders own 0.83% of the company’s stock.

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.