EMCOR Group, Inc. (NYSE:EME) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lowered its stake in EMCOR Group, Inc. (NYSE:EME) by 17.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,697 shares of the construction company’s stock after selling 353 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in EMCOR Group were worth $731,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in EMCOR Group by 89.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,688 shares of the construction company’s stock valued at $7,595,000 after acquiring an additional 10,269 shares during the period. Hennessy Advisors Inc. boosted its position in shares of EMCOR Group by 18.9% in the first quarter. Hennessy Advisors Inc. now owns 143,100 shares of the construction company’s stock worth $50,114,000 after buying an additional 22,700 shares during the period. BNP Paribas Financial Markets boosted its position in shares of EMCOR Group by 92.8% in the first quarter. BNP Paribas Financial Markets now owns 102,516 shares of the construction company’s stock worth $35,901,000 after buying an additional 49,346 shares during the period. Wellington Management Group LLP acquired a new stake in shares of EMCOR Group in the fourth quarter worth $9,565,000. Finally, BTC Capital Management Inc. acquired a new stake in EMCOR Group during the first quarter valued at $701,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. DA Davidson raised their target price on EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 28th.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.26% of the stock is currently owned by insiders.

EMCOR Group Price Performance

Shares of EME stock traded up $4.05 during trading hours on Friday, reaching $435.00. The company had a trading volume of 291,622 shares, compared to its average volume of 444,076. The company has a 50 day moving average of $385.74 and a 200 day moving average of $373.50. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 28.70 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $443.96.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 EPS. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

EMCOR Group declared that its Board of Directors has initiated a share buyback plan on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About EMCOR Group

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.