Ontario Teachers Pension Plan Board Sells 13,560 Shares of EMCOR Group, Inc. (NYSE:EME)

Ontario Teachers Pension Plan Board decreased its holdings in EMCOR Group, Inc. (NYSE:EME) by 42.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,696 shares of the construction company’s stock after selling 13,560 shares during the period. Ontario Teachers Pension Plan Board’s holdings in EMCOR Group were worth $4,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of EME. Allworth Financial LP grew its holdings in shares of EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after buying an additional 62 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of EMCOR Group during the 4th quarter worth about $39,000. Cullen Frost Bankers Inc. purchased a new stake in EMCOR Group during the 3rd quarter valued at about $42,000. Benjamin F. Edwards & Company Inc. grew its stake in EMCOR Group by 182.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 195 shares of the construction company’s stock valued at $42,000 after acquiring an additional 126 shares in the last quarter. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of EMCOR Group in the 4th quarter valued at approximately $43,000. Institutional investors own 92.59% of the company’s stock.

Insider Activity at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction dated 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 sale, the chief executive officer now owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

Shares of EME traded up $0.26 during midday trading on Wednesday, reaching $388.50. The stock had a trading volume of 444,094 shares, compared to its average volume of 419,767. EMCOR Group, Inc. has a 1-year low of $161.49 and a 1-year high of $392.61. The company’s fifty day simple moving average is $354.86 and its two-hundred day simple moving average is $276.81. The company has a market cap of $18.26 billion, a price-to-earnings ratio of 25.41 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. The business had revenue of $3.43 billion for the quarter. On average, sell-side analysts forecast that EMCOR Group, Inc. will post 16.1 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a 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.