Mitchell Capital Management Co. Purchases 47 Shares of EMCOR Group, Inc. (NYSE:EME)

Mitchell Capital Management Co. boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,700 shares of the construction company’s stock after purchasing an additional 47 shares during the period. EMCOR Group comprises 1.5% of Mitchell Capital Management Co.’s holdings, making the stock its 16th biggest holding. Mitchell Capital Management Co.’s holdings in EMCOR Group were worth $8,488,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in EMCOR Group by 1.5% during the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after purchasing an additional 24,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in EMCOR Group by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after purchasing an additional 49,137 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in EMCOR Group by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after purchasing an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in EMCOR Group by 11.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after purchasing an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after acquiring an additional 88,074 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Performance

Shares of EME opened at $408.33 on Friday. The company has a 50 day moving average price of $458.38 and a 200-day moving average price of $448.53. EMCOR Group, Inc. has a fifty-two week low of $305.89 and a fifty-two week high of $545.29. The stock has a market capitalization of $18.78 billion, a PE ratio of 20.74 and a beta of 1.11.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its board has approved 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 reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently announced 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 was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. EMCOR Group’s payout ratio is 5.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. Northcoast Research assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. Finally, StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $497.25.

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.