Congress Wealth Management LLC DE Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Congress Wealth Management LLC DE reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,257 shares of the construction company’s stock after selling 1,757 shares during the period. Congress Wealth Management LLC DE’s holdings in EMCOR Group were worth $19,635,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pathstone Holdings LLC boosted its holdings in shares of EMCOR Group by 4.3% during the 3rd quarter. Pathstone Holdings LLC now owns 10,536 shares of the construction company’s stock worth $4,536,000 after purchasing an additional 439 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in EMCOR Group in the third quarter valued at approximately $503,000. First Horizon Advisors Inc. lifted its holdings in EMCOR Group by 13.0% in the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after acquiring an additional 27 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in EMCOR Group in the third quarter valued at approximately $584,000. Finally, Great Valley Advisor Group Inc. lifted its holdings in EMCOR Group by 83.0% in the third quarter. Great Valley Advisor Group Inc. now owns 6,131 shares of the construction company’s stock valued at $2,640,000 after acquiring an additional 2,781 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

Shares of EME stock opened at $395.11 on Monday. The stock’s 50-day moving average is $434.48 and its two-hundred day moving average is $450.82. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 20.07 and a beta of 1.14. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data 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. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have commented on EME. Stifel Nicolaus decreased their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and an average target price of $497.25.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the sale, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.26% of the company’s stock.

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.