SRS Capital Advisors Inc. Lowers Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

SRS Capital Advisors Inc. lowered its position in EMCOR Group, Inc. (NYSE:EME) by 16.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 403 shares of the construction company’s stock after selling 80 shares during the quarter. SRS Capital Advisors Inc.’s holdings in EMCOR Group were worth $183,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after buying an additional 24,541 shares during the period. Geode Capital Management LLC boosted its holdings in EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after buying an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after buying an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in EMCOR Group by 11.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after buying an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after purchasing an additional 88,074 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

EMCOR Group stock opened at $388.31 on Wednesday. EMCOR Group, Inc. has a 1-year low of $313.48 and a 1-year high of $545.29. The firm has a market capitalization of $17.66 billion, a P/E ratio of 19.72 and a beta of 1.11. The company’s 50-day moving average is $455.52 and its 200 day moving average is $450.05.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s dividend payout ratio is currently 4.64%.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on EME shares. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Northcoast Research initiated coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. Finally, Stifel Nicolaus decreased their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average target price of $497.25.

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.