Legacy Wealth Asset Management LLC Reduces Stake in EMCOR Group, Inc. (NYSE:EME)

Legacy Wealth Asset Management LLC decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 12.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,603 shares of the construction company’s stock after selling 224 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in EMCOR Group were worth $561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EME. Norges Bank purchased a new stake in shares of EMCOR Group during the 4th quarter worth approximately $153,739,000. Burgundy Asset Management Ltd. increased its position in shares of EMCOR Group by 3.9% during the fourth quarter. Burgundy Asset Management Ltd. now owns 679,902 shares of the construction company’s stock worth $146,471,000 after purchasing an additional 25,241 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of EMCOR Group by 20.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock valued at $152,170,000 after purchasing an additional 73,975 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of EMCOR Group by 93.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock valued at $91,791,000 after purchasing an additional 205,793 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in EMCOR Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 356,877 shares of the construction company’s stock worth $76,882,000 after buying an additional 7,241 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $371.09 on Friday. EMCOR Group, Inc. has a one year low of $180.63 and a one year high of $401.98. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 24.48 and a beta of 1.06. The company has a 50-day simple moving average of $377.31 and a 200-day simple moving average of $312.90.

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

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

Insider Activity

In related news, Director Carol P. Lowe sold 1,245 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the transaction, the director now owns 16,807 shares of the company’s stock, valued at $6,289,683.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd.

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.