Paralel Advisors LLC Grows Stock Position in EMCOR Group, Inc. (NYSE:EME)

Paralel Advisors LLC increased its stake in EMCOR Group, Inc. (NYSE:EME) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,167 shares of the construction company’s stock after purchasing an additional 648 shares during the quarter. Paralel Advisors LLC’s holdings in EMCOR Group were worth $3,253,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in EME. Summit Securities Group LLC bought a new stake in EMCOR Group during the fourth quarter valued at $45,000. SJS Investment Consulting Inc. lifted its stake in EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. bought a new stake in EMCOR Group during the fourth quarter worth about $126,000. Finally, Whittier Trust Co. lifted its stake in EMCOR Group by 40.2% during the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock worth $127,000 after purchasing an additional 80 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on EME shares. Stifel Nicolaus decreased their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Down 3.2 %

EME traded down $12.46 on Thursday, hitting $378.54. The company had a trading volume of 17,762 shares, compared to its average volume of 462,845. The company has a market cap of $17.21 billion, a PE ratio of 19.22 and a beta of 1.08. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The business’s fifty day simple moving average is $400.70 and its 200 day simple moving average is $448.02.

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, beating the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s payout ratio is 4.64%.

EMCOR Group announced that its Board of Directors has authorized a stock buyback 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 buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.