Swiss National Bank Lowers Stake in EMCOR Group, Inc. (NYSE:EME)

Swiss National Bank decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 131,800 shares of the construction company’s stock after selling 7,500 shares during the period. Swiss National Bank owned 0.29% of EMCOR Group worth $59,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EME. Perigon Wealth Management LLC raised its holdings in EMCOR Group by 2.5% in the 4th quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock valued at $353,000 after acquiring an additional 19 shares during the last quarter. Adirondack Trust Co. lifted its position in EMCOR Group by 5.0% during the fourth quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after buying an additional 20 shares during the period. Exchange Traded Concepts LLC boosted its stake in EMCOR Group by 1.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock worth $521,000 after buying an additional 21 shares during the last quarter. Caprock Group LLC grew its holdings in EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after buying an additional 22 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 4.4 %

EMCOR Group stock opened at $389.29 on Friday. The firm has a market capitalization of $17.70 billion, a P/E ratio of 19.77 and a beta of 1.14. The firm has a fifty day moving average of $442.26 and a 200-day moving average of $449.70. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.79. The firm had revenue of $3.77 billion during 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%. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors 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 0.26%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

EMCOR Group declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group assumed coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. Northcoast Research initiated coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. Finally, StockNews.com lowered 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

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.