Royal Bank of Canada Grows Position in EMCOR Group, Inc. (NYSE:EME)

Royal Bank of Canada grew its position in EMCOR Group, Inc. (NYSE:EME) by 9.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 310,775 shares of the construction company’s stock after acquiring an additional 26,305 shares during the quarter. Royal Bank of Canada’s holdings in EMCOR Group were worth $141,061,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew 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 buying an additional 288,765 shares during the period. Geode Capital Management LLC boosted its position in EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock worth $463,320,000 after purchasing an additional 25,502 shares during the period. Norges Bank purchased a new stake in EMCOR Group during the 4th quarter worth $299,855,000. Northern Trust Corp increased its holdings in EMCOR Group by 22.9% in the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company’s stock valued at $250,046,000 after purchasing an additional 102,738 shares in the last quarter. Finally, First Trust Advisors LP raised its position in EMCOR Group by 35.2% in the fourth 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 period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

NYSE:EME opened at $471.33 on Monday. The firm has a 50-day moving average of $398.87 and a two-hundred day moving average of $443.27. The stock has a market cap of $21.10 billion, a P/E ratio of 23.94 and a beta of 1.18. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

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

EMCOR Group declared that its board has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is currently 4.42%.

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 7,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer now owns 208,989 shares in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,197 shares of company stock valued at $3,905,748. 0.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EME shares. Stifel Nicolaus decreased their target price on EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One 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 company presently has an average rating of “Moderate Buy” and an average price target of $494.50.

EMCOR Group Company 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.