EMCOR Group, Inc. (NYSE:EME) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc cut its holdings in EMCOR Group, Inc. (NYSE:EME) by 40.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606 shares of the construction company’s stock after selling 407 shares during the period. AdvisorNet Financial Inc’s holdings in EMCOR Group were worth $212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EME. Norges Bank purchased a new position in shares of EMCOR Group during the fourth quarter worth about $153,739,000. Pacer Advisors Inc. grew its holdings in shares of EMCOR Group by 3,091.7% during the fourth quarter. Pacer Advisors Inc. now owns 313,998 shares of the construction company’s stock worth $67,645,000 after purchasing an additional 304,160 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of EMCOR Group by 93.4% during the fourth quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock worth $91,791,000 after purchasing an additional 205,793 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of EMCOR Group during the fourth quarter worth about $25,938,000. Finally, AQR Capital Management LLC grew its holdings in shares of EMCOR Group by 30.2% during the third quarter. AQR Capital Management LLC now owns 426,706 shares of the construction company’s stock worth $89,775,000 after purchasing an additional 98,989 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Down 0.6 %

NYSE EME opened at $378.41 on Wednesday. EMCOR Group, Inc. has a 52-week low of $176.26 and a 52-week high of $401.98. The business’s 50-day moving average price is $373.31 and its 200 day moving average price is $306.91. The firm has a market cap of $17.79 billion, a P/E ratio of 24.96 and a beta of 1.08.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. As a group, analysts anticipate that EMCOR Group, Inc. will post 16.1 earnings per share for the current year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued 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 positive change from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Carol P. Lowe sold 1,245 shares of the firm’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 value of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares of the company’s stock, valued at approximately $6,289,683.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by insiders.

EMCOR Group 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.