Welch & Forbes LLC Acquires 59 Shares of EMCOR Group, Inc. (NYSE:EME)

Welch & Forbes LLC grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 626 shares of the construction company’s stock after buying an additional 59 shares during the quarter. Welch & Forbes LLC’s holdings in EMCOR Group were worth $284,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in EMCOR Group during the 4th quarter worth approximately $42,380,000. Arizona State Retirement System grew its holdings in shares of EMCOR Group by 0.7% in the fourth quarter. Arizona State Retirement System now owns 13,553 shares of the construction company’s stock worth $6,152,000 after purchasing an additional 88 shares during the last quarter. Verdence Capital Advisors LLC purchased a new position in shares of EMCOR Group in the fourth quarter worth $200,000. Proficio Capital Partners LLC bought a new stake in EMCOR Group during the 4th quarter valued at $23,941,000. Finally, Assetmark Inc. boosted its position in EMCOR Group by 5.2% during the 4th quarter. Assetmark Inc. now owns 8,123 shares of the construction company’s stock valued at $3,687,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME opened at $376.10 on Friday. EMCOR Group, Inc. has a 1 year low of $313.48 and a 1 year high of $545.29. The stock has a market capitalization of $17.10 billion, a P/E ratio of 19.10 and a beta of 1.14. The company’s 50-day moving average is $450.59 and its 200 day moving average is $449.75.

EMCOR Group (NYSE:EME) last posted its earnings results 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. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 4.64%.

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

Wall Street Analysts Forecast Growth

EME has been the topic of a number of analyst reports. Northcoast Research began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective on the stock. The Goldman Sachs Group began coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Stifel Nicolaus dropped 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. Finally, StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $497.25.

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.