Cornerstone Investment Partners LLC Lowers Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Cornerstone Investment Partners LLC trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,655 shares of the construction company’s stock after selling 405 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in EMCOR Group were worth $572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of EMCOR Group by 83.8% in the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after purchasing an additional 62 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of EMCOR Group in the third quarter worth approximately $35,000. CVA Family Office LLC bought a new position in shares of EMCOR Group in the fourth quarter worth approximately $39,000. Cullen Frost Bankers Inc. bought a new position in shares of EMCOR Group in the third quarter worth approximately $42,000. Finally, Zions Bancorporation N.A. bought a new position in shares of EMCOR Group in the first quarter worth approximately $26,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. KeyCorp began coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. DA Davidson reiterated a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a research report on Friday, March 22nd.

EMCOR Group Price Performance

NYSE EME traded down $6.91 on Friday, reaching $329.15. 274,507 shares of the company’s stock traded hands, compared to its average volume of 412,528. EMCOR Group, Inc. has a 12 month low of $155.35 and a 12 month high of $369.53. The stock has a 50-day simple moving average of $317.64 and a 200 day simple moving average of $249.99. The stock has a market cap of $15.49 billion, a PE ratio of 25.25 and a beta of 1.10.

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

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be issued a $0.25 dividend. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. EMCOR Group’s dividend payout ratio (DPR) is currently 7.51%.

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.