Korea Investment CORP Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Korea Investment CORP decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 40.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,243 shares of the construction company’s stock after selling 36,164 shares during the period. Korea Investment CORP owned about 0.12% of EMCOR Group worth $24,621,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EME. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in EMCOR Group in the fourth quarter worth $726,000. Murphy & Mullick Capital Management Corp bought a new position in shares of EMCOR Group during the fourth quarter valued at approximately $309,000. Stevens Capital Management LP purchased a new stake in shares of EMCOR Group in the 4th quarter worth approximately $309,000. LPL Financial LLC raised its stake in EMCOR Group by 42.5% during the fourth quarter. LPL Financial LLC now owns 45,224 shares of the construction company’s stock valued at $20,527,000 after buying an additional 13,485 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in EMCOR Group in the fourth quarter worth $22,060,000. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction on Thursday, March 13th. The stock was 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 in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

Shares of EME opened at $371.22 on Friday. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The business has a fifty day moving average of $424.19 and a 200 day moving average of $450.79. The firm has a market capitalization of $16.88 billion, a P/E ratio of 18.85 and a beta of 1.14.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 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 analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Analysts expect that EMCOR Group, Inc. will post 20.74 EPS 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 Dividend Announcement

The firm also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio is presently 4.64%.

Analysts Set New Price Targets

EME has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of 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 downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.