Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in EMCOR Group, Inc. (NYSE:EME)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in EMCOR Group, Inc. (NYSE:EME) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,338 shares of the construction company’s stock after buying an additional 730 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EMCOR Group were worth $2,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its holdings in EMCOR Group by 41.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company’s stock valued at $224,813,000 after buying an additional 310,718 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of EMCOR Group by 3,091.7% in the 4th quarter. Pacer Advisors Inc. now owns 313,998 shares of the construction company’s stock worth $67,645,000 after acquiring an additional 304,160 shares during the last quarter. Invesco Ltd. boosted its position in shares of EMCOR Group by 40.1% during the 3rd quarter. Invesco Ltd. now owns 919,304 shares of the construction company’s stock worth $193,412,000 after purchasing an additional 263,330 shares during the period. FMR LLC increased its holdings in EMCOR Group by 7.3% in the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock valued at $747,239,000 after purchasing an additional 241,920 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in EMCOR Group by 155.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 325,625 shares of the construction company’s stock valued at $68,509,000 after purchasing an additional 198,214 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Up 1.7 %

NYSE:EME opened at $338.08 on Wednesday. EMCOR Group, Inc. has a 52 week low of $155.46 and a 52 week high of $369.53. The company has a fifty day simple moving average of $323.00 and a two-hundred day simple moving average of $253.31. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 25.40 and a beta of 1.10.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, topping 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 revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.63 EPS. On average, analysts expect that EMCOR Group, Inc. will post 14.5 EPS for the current year.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s payout ratio is currently 7.51%.

Insiders Place Their Bets

In other news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction on 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 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 the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EME. DA Davidson reaffirmed a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp started coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock.

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.