Raymond James & Associates Has $54.98 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Raymond James & Associates trimmed its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 12.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,003 shares of the construction company’s stock after selling 23,053 shares during the quarter. Raymond James & Associates owned 0.33% of EMCOR Group worth $54,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EME. Allworth Financial LP boosted its holdings in shares of EMCOR Group by 83.8% in the 4th quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares in the last quarter. Independence Bank of Kentucky acquired a new position in EMCOR Group in the first quarter worth $33,000. CVA Family Office LLC bought a new stake in shares of EMCOR Group during the fourth quarter worth $39,000. Evermay Wealth Management LLC acquired a new stake in shares of EMCOR Group in the fourth quarter valued at $39,000. Finally, Rise Advisors LLC bought a new position in shares of EMCOR Group in the first quarter valued at about $40,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Up 2.1 %

NYSE:EME traded up $7.48 during trading hours on Friday, hitting $363.77. 330,998 shares of the stock were exchanged, compared to its average volume of 480,061. The company’s 50 day moving average is $338.99 and its two-hundred day moving average is $261.30. EMCOR Group, Inc. has a twelve month low of $161.49 and a twelve month high of $369.53. The company has a market capitalization of $17.10 billion, a P/E ratio of 24.00 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The firm had revenue of $3.43 billion for the quarter. On average, equities research analysts expect that EMCOR Group, Inc. will post 16.1 EPS for the current year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th were paid a $0.25 dividend. The ex-dividend date was Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio is 6.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. DA Davidson reissued a “buy” rating and set a $375.00 price objective on shares of EMCOR Group in a report on Friday, March 22nd. KeyCorp started coverage on shares of EMCOR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company.

Insider Activity

In other news, CEO Anthony Guzzi sold 6,000 shares of the 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 transaction, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

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.