Forum Financial Management LP Trims Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Forum Financial Management LP lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,578 shares of the construction company’s stock after selling 45 shares during the period. Forum Financial Management LP’s holdings in EMCOR Group were worth $716,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in EMCOR Group during the 4th quarter valued at about $45,000. SJS Investment Consulting Inc. increased its holdings in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after acquiring an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after acquiring an additional 25 shares during the period. Altshuler Shaham Ltd lifted its stake in EMCOR Group by 2,063.6% in the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock worth $108,000 after purchasing an additional 227 shares in the last quarter. Finally, GeoWealth Management LLC boosted its holdings in EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company’s stock valued at $115,000 after purchasing an additional 28 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Down 1.0 %

EMCOR Group stock opened at $378.61 on Friday. The firm has a fifty day simple moving average of $390.41 and a two-hundred day simple moving average of $445.69. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The company has a market capitalization of $17.22 billion, a PE ratio of 19.23 and a beta of 1.08.

EMCOR Group (NYSE:EME) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.26% of the stock is owned by company insiders.

About EMCOR Group

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.