Holderness Investments Co. Raises Stake in EMCOR Group, Inc. (NYSE:EME)

Holderness Investments Co. grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,163 shares of the construction company’s stock after purchasing an additional 444 shares during the quarter. Holderness Investments Co.’s holdings in EMCOR Group were worth $982,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of EMCOR Group by 3,466.7% during 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 in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of EMCOR Group during the third quarter valued at $55,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of EMCOR Group by 14.4% during the fourth 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. Finally, First Horizon Advisors Inc. boosted its position in shares of EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $400.31 on Friday. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 20.33 and a beta of 1.14. The stock’s 50-day simple moving average is $435.92 and its two-hundred day simple moving average is $449.51. 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 earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.79. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its board has approved a stock repurchase 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 buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Announces Dividend

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

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EME shares. Stifel Nicolaus dropped their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. Finally, Northcoast Research began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.