EMCOR Group, Inc. (NYSE:EME) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 20.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,072 shares of the construction company’s stock after selling 31,348 shares during the quarter. New York State Common Retirement Fund owned approximately 0.27% of EMCOR Group worth $26,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in EMCOR Group by 10.7% in the fourth quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock valued at $21,880,000 after purchasing an additional 9,752 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in EMCOR Group in the fourth quarter valued at $992,000. Federated Hermes Inc. increased its stake in EMCOR Group by 20.1% in the fourth quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company’s stock valued at $22,094,000 after purchasing an additional 17,188 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in EMCOR Group by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company’s stock valued at $56,078,000 after purchasing an additional 2,880 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in EMCOR Group during the fourth quarter worth about $4,054,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EME shares. KeyCorp started coverage on EMCOR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson restated a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a research note on Friday, March 22nd.

Insider Transactions at EMCOR Group

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

EMCOR Group Price Performance

Shares of NYSE EME opened at $353.96 on Friday. EMCOR Group, Inc. has a 1-year low of $161.49 and a 1-year high of $369.53. The business has a 50-day moving average of $328.76 and a 200-day moving average of $255.59. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 26.59 and a beta of 1.10.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $1.25. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The company had revenue of $3.43 billion during the quarter. Research analysts expect that EMCOR Group, Inc. will post 14.5 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a $0.25 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, April 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. EMCOR Group’s dividend payout ratio is presently 7.51%.

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.