EMCOR Group, Inc. (NYSE:EME) Position Reduced by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 892 shares of the construction company’s stock after selling 152 shares during the quarter. Axxcess Wealth Management LLC’s holdings in EMCOR Group were worth $312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of EMCOR Group during the first quarter worth $28,000. Allworth Financial LP increased its holdings in shares of EMCOR Group by 83.8% in the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares during the period. Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group in the 1st quarter worth about $33,000. Evermay Wealth Management LLC acquired a new stake in shares of EMCOR Group in the 4th quarter worth about $39,000. Finally, Rise Advisors LLC acquired a new stake in shares of EMCOR Group in the 1st quarter worth about $40,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson increased their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday.

EMCOR Group Stock Up 5.0 %

EME stock opened at $364.05 on Friday. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $401.98. The firm’s 50-day simple moving average is $376.71 and its 200 day simple moving average is $330.81. The stock has a market cap of $17.11 billion, a PE ratio of 24.01 and a beta of 1.06.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.50 by $1.75. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. EMCOR Group’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $2.95 EPS. Equities analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, Director Carol P. Lowe sold 1,245 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were 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 approximately $6,289,683.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.26% of the stock is owned by corporate insiders.

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.