Allspring Global Investments Holdings LLC Buys 34,923 Shares of EMCOR Group, Inc. (NYSE:EME)

Allspring Global Investments Holdings LLC increased its stake in EMCOR Group, Inc. (NYSE:EME) by 10.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 360,548 shares of the construction company’s stock after acquiring an additional 34,923 shares during the period. Allspring Global Investments Holdings LLC’s holdings in EMCOR Group were worth $77,673,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in EMCOR Group by 10.7% in the fourth quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock worth $21,880,000 after buying an additional 9,752 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in EMCOR Group by 1.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company’s stock worth $56,078,000 after buying an additional 2,880 shares during the last quarter. FMR LLC lifted its position in EMCOR Group by 7.3% in the third quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock worth $747,239,000 after buying an additional 241,920 shares during the last quarter. Earnest Partners LLC bought a new stake in shares of EMCOR Group during the third quarter worth $2,212,000. Finally, QRG Capital Management Inc. bought a new stake in shares of EMCOR Group during the third quarter worth $444,000. 92.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Anthony Guzzi sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the transaction, the chief executive officer now owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

EMCOR Group Trading Down 2.5 %

Shares of EMCOR Group stock opened at $352.02 on Wednesday. The firm has a market cap of $16.57 billion, a P/E ratio of 26.45 and a beta of 1.10. EMCOR Group, Inc. has a 12 month low of $152.16 and a 12 month high of $369.53. The stock’s fifty day moving average price is $302.16 and its 200-day moving average price is $243.88.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.47 EPS for the quarter, beating the consensus estimate of $3.51 by $0.96. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.63 earnings per share. Analysts forecast that EMCOR Group, Inc. will post 14.5 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 15th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. EMCOR Group’s payout ratio is currently 5.41%.

Analysts Set New Price Targets

EME has been the subject of several research analyst reports. KeyCorp initiated coverage on EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. DA Davidson reiterated a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a research report on Friday, March 22nd.

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.