Utah Retirement Systems Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Utah Retirement Systems reduced its stake in EMCOR Group, Inc. (NYSE:EME) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,563 shares of the construction company’s stock after selling 100 shares during the quarter. Utah Retirement Systems’ holdings in EMCOR Group were worth $3,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of EMCOR Group during the 4th quarter worth $299,855,000. Invesco Ltd. lifted its stake in EMCOR Group by 28.0% during the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock worth $598,465,000 after purchasing an additional 288,765 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of EMCOR Group by 2,246.2% in the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after purchasing an additional 136,501 shares in the last quarter. First Trust Advisors LP increased its position in shares of EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock valued at $225,332,000 after purchasing an additional 129,186 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of EMCOR Group by 399.4% during the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after buying an additional 122,716 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 2.9 %

Shares of NYSE EME opened at $412.43 on Friday. The firm’s fifty day moving average is $385.79 and its 200 day moving average is $442.81. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 20.95 and a beta of 1.08.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.17 earnings per share. Equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. EMCOR Group’s dividend payout ratio is presently 4.42%.

EMCOR Group announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $494.50.

Insider Buying and Selling

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.26% of the stock is currently owned by insiders.

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.