Goldman Sachs Group Inc. Has $48.90 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Goldman Sachs Group Inc. reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,965 shares of the construction company’s stock after selling 67,197 shares during the quarter. Goldman Sachs Group Inc.’s holdings in EMCOR Group were worth $48,895,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of EMCOR Group during the 4th quarter worth about $454,000. Raleigh Capital Management Inc. lifted its holdings in shares of EMCOR Group by 70.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 333 shares of the construction company’s stock valued at $72,000 after purchasing an additional 138 shares in the last quarter. Quarry LP bought a new position in shares of EMCOR Group during the 4th quarter valued at about $58,000. Brevan Howard Capital Management LP lifted its holdings in shares of EMCOR Group by 246.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 8,450 shares of the construction company’s stock valued at $1,820,000 after purchasing an additional 6,011 shares in the last quarter. Finally, Bridgefront Capital LLC lifted its holdings in shares of EMCOR Group by 21.3% during the 4th quarter. Bridgefront Capital LLC now owns 1,758 shares of the construction company’s stock valued at $379,000 after purchasing an additional 309 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

NYSE EME opened at $385.68 on Thursday. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 25.44 and a beta of 1.08. The stock’s 50 day moving average price is $370.73 and its two-hundred day moving average price is $301.56. EMCOR Group, Inc. has a 52 week low of $173.24 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 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 research analysts forecast that EMCOR Group, Inc. will post 16.1 EPS for the current year.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio is currently 6.60%.

Analysts Set New Price Targets

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

Insider Transactions at EMCOR Group

In other news, Director Carol P. Lowe sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the sale, the director now owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

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.