EMCOR Group, Inc. (NYSE:EME) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 11.9% in the fourth quarter, HoldingsChannel reports. The firm owned 36,400 shares of the construction company’s stock after selling 4,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in EMCOR Group were worth $16,522,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of EMCOR Group in the fourth quarter valued at $45,000. SJS Investment Consulting Inc. boosted its stake in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in EMCOR Group by 14.4% in the 4th 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 period. Altshuler Shaham Ltd grew its holdings in EMCOR Group by 2,063.6% in the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock valued at $108,000 after buying an additional 227 shares during the period. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of EMCOR Group during the 4th quarter valued at about $126,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred 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 sale, the chief accounting officer now owns 27,642 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on EME. 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. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Performance

EME opened at $378.61 on Monday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The firm has a 50 day moving average price of $390.41 and a 200 day moving average price of $445.79. The company has a market cap of $17.22 billion, a PE ratio of 19.23 and a beta of 1.08.

EMCOR Group (NYSE:EME) last released its quarterly earnings data 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 company 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%. On average, sell-side analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its board has authorized a share buyback plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

EMCOR Group Announces Dividend

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

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.