New York Life Investment Management LLC Lowers Stock Position in EMCOR Group, Inc. (NYSE:EME)

New York Life Investment Management LLC trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,944 shares of the construction company’s stock after selling 70 shares during the period. New York Life Investment Management LLC’s holdings in EMCOR Group were worth $1,065,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP grew its holdings in shares of EMCOR Group by 83.8% in the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares during the period. CVA Family Office LLC purchased a new position in shares of EMCOR Group in the fourth quarter valued at $39,000. Cullen Frost Bankers Inc. acquired a new position in shares of EMCOR Group during the 3rd quarter worth $42,000. Alaska Permanent Fund Corp purchased a new stake in shares of EMCOR Group in the 4th quarter worth about $43,000. Finally, GAMMA Investing LLC acquired a new stake in EMCOR Group in the 4th quarter valued at about $47,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Trading Up 0.9 %

NYSE:EME opened at $375.46 on Wednesday. EMCOR Group, Inc. has a 12-month low of $161.49 and a 12-month high of $377.80. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of 24.77 and a beta of 1.07. The company’s 50-day moving average is $342.89 and its two-hundred day moving average is $264.28.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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. The business had revenue of $3.43 billion for the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. On average, equities research analysts forecast that EMCOR Group, Inc. will post 16.1 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were paid a $0.25 dividend. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Monday, April 15th. EMCOR Group’s dividend payout ratio is presently 6.60%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EME. DA Davidson reaffirmed a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd. KeyCorp assumed coverage on EMCOR Group in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock.

Insider Buying and Selling

In other 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 transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.