Skandinaviska Enskilda Banken AB publ Acquires 52,014 Shares of EMCOR Group, Inc. (NYSE:EME)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 79.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 117,359 shares of the construction company’s stock after purchasing an additional 52,014 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in EMCOR Group were worth $53,660,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. True Wealth Design LLC increased its position in shares of EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after acquiring an additional 104 shares during the last quarter. SJS Investment Consulting Inc. grew its stake in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of EMCOR Group during the 3rd quarter worth approximately $55,000. Rakuten Securities Inc. raised its stake in shares of EMCOR Group by 4,025.0% during the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after purchasing an additional 161 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after buying an additional 25 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Price Performance

EME stock opened at $382.55 on Thursday. The stock has a market cap of $17.40 billion, a price-to-earnings ratio of 19.43 and a beta of 1.14. The company has a fifty day moving average price of $445.64 and a two-hundred day moving average price of $449.67. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The business had revenue of $3.77 billion for 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%. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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

EMCOR Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EME. Stifel Nicolaus lowered their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Northcoast Research began coverage on EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $497.25.

About EMCOR Group

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.