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

Norden Group LLC decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,133 shares of the construction company’s stock after selling 394 shares during the quarter. Norden Group LLC’s holdings in EMCOR Group were worth $675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in EMCOR Group by 10.7% during the 4th quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock valued at $21,880,000 after acquiring an additional 9,752 shares during the period. Asset Management One Co. Ltd. bought a new stake in EMCOR Group during the 4th quarter valued at $992,000. Federated Hermes Inc. raised its holdings in EMCOR Group by 20.1% during the 4th quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company’s stock valued at $22,094,000 after acquiring an additional 17,188 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in EMCOR Group by 1.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company’s stock valued at $56,078,000 after acquiring an additional 2,880 shares during the period. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in EMCOR Group during the 4th quarter valued at $4,054,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Down 1.8 %

NYSE EME opened at $357.15 on Wednesday. The company has a 50-day simple moving average of $333.10 and a two-hundred day simple moving average of $258.45. EMCOR Group, Inc. has a 12-month low of $161.49 and a 12-month high of $369.53. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 23.56 and a beta of 1.10.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $1.25. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. The business had revenue of $3.43 billion during the quarter. Equities analysts expect that EMCOR Group, Inc. will post 16.1 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.28%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EME. KeyCorp began coverage on EMCOR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. DA Davidson reissued a “buy” rating and issued a $375.00 target price on shares of EMCOR Group in a research note on Friday, March 22nd.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% 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.