EMCOR Group, Inc. (NYSE:EME) Holdings Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,598 shares of the construction company’s stock after selling 94,925 shares during the period. Allspring Global Investments Holdings LLC’s holdings in EMCOR Group were worth $123,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of EMCOR Group in the fourth quarter worth approximately $153,739,000. Burgundy Asset Management Ltd. lifted its position in EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after buying an additional 11,479 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of EMCOR Group by 93.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 426,083 shares of the construction company’s stock valued at $91,791,000 after buying an additional 205,793 shares during the period. Acadian Asset Management LLC boosted its stake in shares of EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after buying an additional 139,919 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of EMCOR Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 356,877 shares of the construction company’s stock valued at $76,882,000 after acquiring an additional 7,241 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction dated Thursday, June 6th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares in the company, valued at $6,289,683.61. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson increased their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $377.16 on Tuesday. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 24.88 and a beta of 1.06. The business has a 50 day simple moving average of $367.71 and a 200 day simple moving average of $351.83. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $401.98.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 earnings per share. On average, analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group Dividend Announcement

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

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.