Envestnet Portfolio Solutions Inc. Sells 813 Shares of EMCOR Group, Inc. (NYSE:EME)

Envestnet Portfolio Solutions Inc. decreased its position in EMCOR Group, Inc. (NYSE:EME) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,689 shares of the construction company’s stock after selling 813 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in EMCOR Group were worth $1,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of EMCOR Group by 1.5% during the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after buying an additional 24,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in EMCOR Group by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after acquiring an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of EMCOR Group by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after acquiring an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of EMCOR Group by 11.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after purchasing an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after purchasing an additional 88,074 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Stock Performance

Shares of EME opened at $395.11 on Friday. The firm has a market cap of $17.97 billion, a P/E ratio of 20.07 and a beta of 1.14. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The firm’s 50 day moving average price is $434.48 and its two-hundred day moving average price is $449.53.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.53 by $0.79. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. EMCOR Group’s dividend payout ratio is currently 4.64%.

EMCOR Group Company 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.