Comerica Bank Sells 6,361 Shares of EMCOR Group, Inc. (NYSE:EME)

Comerica Bank trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 21.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,797 shares of the construction company's stock after selling 6,361 shares during the quarter. Comerica Bank owned approximately 0.05% of EMCOR Group worth $10,802,000 as of its most recent SEC filing.

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A number of other large investors also recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in shares of EMCOR Group in the 4th quarter worth $45,000. SJS Investment Consulting Inc. raised its holdings in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after buying an additional 25 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of EMCOR Group by 2,063.6% in the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock valued at $108,000 after buying an additional 227 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in shares of EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock worth $115,000 after buying an additional 28 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Activity at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Up 4.3 %

• Emcor Stock in Buy Zone As it Rebounds Off 50-Day Average

EME stock opened at $430.18 on Friday. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The stock has a market capitalization of $19.38 billion, a PE ratio of 21.85 and a beta of 1.08. The firm has a 50 day moving average of $386.43 and a 200 day moving average of $442.71.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating analysts' consensus estimates of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.17 earnings per share. On average, equities research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

• Are Small Caps a Harbinger of Market Declines?

EMCOR Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is 4.42%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EME shares. StockNews.com downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, EMCOR Group currently has an average rating of "Moderate Buy" and a consensus target price of $494.50.

Read Our Latest Stock Report on EMCOR Group

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.

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