Congress Wealth Management LLC DE Sells 1,757 Shares of EMCOR Group, Inc. (NYSE:EME)

Congress Wealth Management LLC DE lowered its position in EMCOR Group, Inc. (NYSE:EME) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,257 shares of the construction company’s stock after selling 1,757 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.09% of EMCOR Group worth $19,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Koshinski Asset Management Inc. boosted its position in EMCOR Group by 4.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock valued at $298,000 after acquiring an additional 26 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock valued at $311,000 after acquiring an additional 667 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of EMCOR Group by 25.0% during the 3rd quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock valued at $2,261,000 after purchasing an additional 1,049 shares during the last quarter. PFW Advisors LLC purchased a new stake in shares of EMCOR Group during the 4th quarter valued at $689,000. Finally, Verition Fund Management LLC lifted its holdings in shares of EMCOR Group by 390.2% during the 3rd quarter. Verition Fund Management LLC now owns 15,623 shares of the construction company’s stock valued at $6,726,000 after purchasing an additional 12,436 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME opened at $395.11 on Monday. The stock has a 50-day moving average of $434.48 and a two-hundred day moving average of $450.82. The stock has a market cap of $17.97 billion, a P/E ratio of 20.07 and a beta of 1.14. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. Analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

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

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group’s payout ratio is currently 4.64%.

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.