EMCOR Group, Inc. (NYSE:EME) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its position in EMCOR Group, Inc. (NYSE:EME) by 41.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 544 shares of the construction company’s stock after selling 387 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in EMCOR Group were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of EMCOR Group during the 4th quarter worth approximately $45,000. Schroder Investment Management Group raised its position in EMCOR Group by 1,055.5% in the fourth quarter. Schroder Investment Management Group now owns 12,734 shares of the construction company’s stock valued at $5,823,000 after purchasing an additional 11,632 shares during the period. Intrust Bank NA lifted its stake in shares of EMCOR Group by 18.3% in the 4th quarter. Intrust Bank NA now owns 931 shares of the construction company’s stock valued at $423,000 after purchasing an additional 144 shares during the last quarter. Allstate Corp purchased a new position in shares of EMCOR Group during the 4th quarter worth $606,000. Finally, Maridea Wealth Management LLC acquired a new stake in shares of EMCOR Group during the 4th quarter worth about $261,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Trading Down 3.6 %

EME opened at $341.76 on Monday. The stock’s 50-day moving average price is $408.04 and its 200 day moving average price is $450.55. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 17.36 and a beta of 1.08.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction 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 in the company, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

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.