Colonial Trust Co SC Increases Stake in EMCOR Group, Inc. (NYSE:EME)

by · The Cerbat Gem

Colonial Trust Co SC grew its position in EMCOR Group, Inc. (NYSE:EME – Free Report) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,034 shares of the construction company’s stock after acquiring an additional 87 shares during the period. Colonial Trust Co SC’s holdings in EMCOR Group were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in EMCOR Group in the 4th quarter valued at approximately $45,000. SJS Investment Consulting Inc. raised its position in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after acquiring an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after acquiring an additional 25 shares during the period. Altshuler Shaham Ltd boosted its position in shares of EMCOR Group by 2,063.6% during the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock worth $108,000 after purchasing an additional 227 shares in the last quarter. Finally, GeoWealth Management LLC grew its stake in shares of EMCOR Group by 12.4% during the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company’s stock worth $115,000 after purchasing an additional 28 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Trading Up 0.4 %

NYSE:EME opened at $434.61 on Thursday. The company has a market capitalization of $19.45 billion, a P/E ratio of 22.07 and a beta of 1.18. The firm has a 50-day moving average price of $387.86 and a two-hundred day moving average price of $442.36. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME – Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.17 EPS. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s payout ratio is currently 4.42%.

Insider Buying and Selling

In other news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly owns 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the transaction, the director now directly owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,197 shares of company stock worth $3,905,748. 1.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $494.50.

Check Out Our Latest Stock Analysis on EMCOR Group

EMCOR Group Profile

(Free Report)

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.

See Also

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