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

Cornerstone Investment Partners LLC trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,655 shares of the construction company’s stock after selling 405 shares during the period. Cornerstone Investment Partners LLC’s holdings in EMCOR Group were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of EMCOR Group by 20.1% during the 4th quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company’s stock worth $22,094,000 after acquiring an additional 17,188 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of EMCOR Group by 0.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,150 shares of the construction company’s stock worth $3,049,000 after acquiring an additional 50 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of EMCOR Group by 7.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,338 shares of the construction company’s stock valued at $2,227,000 after purchasing an additional 730 shares during the last quarter. Hamilton Point Investment Advisors LLC increased its position in shares of EMCOR Group by 1.5% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 64,121 shares of the construction company’s stock valued at $13,814,000 after purchasing an additional 957 shares during the last quarter. Finally, Private Client Services LLC bought a new position in shares of EMCOR Group during the 4th quarter valued at approximately $676,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EMCOR Group 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 value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EME shares. KeyCorp started coverage on EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. DA Davidson reissued 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 Trading Down 2.1 %

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

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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 company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. EMCOR Group had a return on equity of 28.41% and a net margin of 5.03%. EMCOR Group’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.63 EPS. Equities 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. Shareholders of record on Tuesday, April 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. 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. EMCOR Group’s dividend payout ratio 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.