California Public Employees Retirement System Has $42.17 Million Position in EMCOR Group, Inc. (NYSE:EME)

California Public Employees Retirement System cut its position in shares of EMCOR Group, Inc. (NYSE:EME) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,897 shares of the construction company’s stock after selling 6,117 shares during the quarter. California Public Employees Retirement System owned 0.20% of EMCOR Group worth $42,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of EMCOR Group by 0.7% during the third quarter. Bank of Montreal Can now owns 12,261 shares of the construction company’s stock valued at $5,237,000 after purchasing an additional 82 shares during the period. Walleye Capital LLC raised its stake in shares of EMCOR Group by 140.0% in the 3rd quarter. Walleye Capital LLC now owns 4,407 shares of the construction company’s stock valued at $1,897,000 after buying an additional 2,571 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of EMCOR Group by 14.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,670 shares of the construction company’s stock valued at $2,441,000 after buying an additional 703 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of EMCOR Group by 168.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,898 shares of the construction company’s stock worth $1,248,000 after acquiring an additional 1,817 shares during the period. Finally, Hilltop Holdings Inc. boosted its position in shares of EMCOR Group by 122.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,488 shares of the construction company’s stock valued at $640,000 after acquiring an additional 819 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Trading Up 2.5 %

NYSE EME opened at $384.89 on Thursday. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The company has a 50 day moving average of $415.38 and a 200-day moving average of $451.06. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of 19.55 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 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion during 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%. On average, analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

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. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

EMCOR Group declared that its board has initiated a stock 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 reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

EME has been the subject of a number of analyst reports. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s 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 owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

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.