Prosperity Financial Group Inc. Increases Position in EMCOR Group, Inc. (NYSE:EME)

Prosperity Financial Group Inc. lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 52.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 915 shares of the construction company’s stock after buying an additional 313 shares during the quarter. Prosperity Financial Group Inc.’s holdings in EMCOR Group were worth $415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EME. Citizens Financial Group Inc. RI purchased a new position in EMCOR Group during the fourth quarter worth approximately $214,000. Independent Advisor Alliance raised its stake in EMCOR Group by 1.6% during the fourth quarter. Independent Advisor Alliance now owns 5,337 shares of the construction company’s stock worth $2,422,000 after purchasing an additional 85 shares during the period. Daiwa Securities Group Inc. raised its stake in EMCOR Group by 17.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 30,536 shares of the construction company’s stock worth $13,860,000 after purchasing an additional 4,496 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in EMCOR Group by 6.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,615 shares of the construction company’s stock worth $22,974,000 after purchasing an additional 3,136 shares during the period. Finally, Personal CFO Solutions LLC purchased a new position in EMCOR Group during the fourth quarter worth approximately $207,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. 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 for the company. Finally, The Goldman Sachs Group began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Trading Up 3.4 %

EME opened at $373.47 on Wednesday. The company has a fifty day simple moving average of $447.07 and a 200 day simple moving average of $450.14. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 18.97 and a beta of 1.14. EMCOR Group, Inc. has a twelve month low of $314.75 and a twelve month high of $545.30.

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

EMCOR Group Dividend Announcement

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

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

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.