Convergence Investment Partners LLC Purchases New Holdings in EMCOR Group, Inc. (NYSE:EME)

Convergence Investment Partners LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,301 shares of the construction company’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Modus Advisors LLC increased its stake in shares of EMCOR Group by 2.0% during the 4th quarter. Modus Advisors LLC now owns 2,503 shares of the construction company’s stock worth $539,000 after purchasing an additional 49 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in EMCOR Group by 0.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,150 shares of the construction company’s stock valued at $3,049,000 after buying an additional 50 shares during the last quarter. Lindbrook Capital LLC grew its holdings in EMCOR Group by 32.5% during the 4th quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock valued at $45,000 after buying an additional 51 shares during the last quarter. Synovus Financial Corp increased its position in EMCOR Group by 1.0% during the third quarter. Synovus Financial Corp now owns 6,072 shares of the construction company’s stock worth $1,277,000 after buying an additional 62 shares in the last quarter. Finally, Allworth Financial LP raised its holdings 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 acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of analyst reports. DA Davidson reaffirmed a “buy” rating and set a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp assumed coverage on shares of EMCOR Group in a report on Wednesday, January 10th. They set a “sector weight” rating for the company.

Insider Buying and Selling at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at approximately $70,010,701.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.

EMCOR Group Stock Up 1.3 %

Shares of NYSE:EME opened at $354.02 on Monday. The business has a fifty day simple moving average of $328.76 and a 200-day simple moving average of $256.25. EMCOR Group, Inc. has a 52 week low of $161.49 and a 52 week high of $369.53. The company has a market cap of $16.64 billion, a P/E ratio of 23.35 and a beta of 1.10.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, beating the consensus estimate of $2.92 by $1.25. The company had revenue of $3.43 billion during the quarter. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. Sell-side analysts expect that EMCOR Group, Inc. will post 16 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio (DPR) is currently 6.60%.

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.