Cynosure Group LLC Reduces Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

by · The Cerbat Gem

Cynosure Group LLC lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 24.3% in the 4th quarter, HoldingsChannel reports. The firm owned 649 shares of the construction company’s stock after selling 208 shares during the quarter. Cynosure Group LLC’s holdings in EMCOR Group were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Summit Securities Group LLC acquired a new stake in EMCOR Group during the 4th quarter worth about $45,000. SJS Investment Consulting Inc. boosted its stake in shares of 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 buying an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in EMCOR Group by 14.4% during 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 in the last quarter. Physician Wealth Advisors Inc. purchased a new position in EMCOR Group during the fourth quarter valued at approximately $126,000. Finally, Whittier Trust Co. lifted its holdings in EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock valued at $127,000 after acquiring an additional 80 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EME shares. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

Read Our Latest Stock Report on EMCOR Group

EMCOR Group Trading Down 7.9 %

Shares of EME opened at $354.62 on Friday. The firm has a market cap of $16.13 billion, a P/E ratio of 18.01 and a beta of 1.14. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The stock’s 50 day moving average is $411.84 and its two-hundred day moving average is $450.39.

EMCOR Group (NYSE:EME – Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About EMCOR Group

(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.

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