HighTower Advisors LLC Sells 1,188 Shares of EMCOR Group, Inc. (NYSE:EME)

HighTower Advisors LLC lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,495 shares of the construction company’s stock after selling 1,188 shares during the quarter. HighTower Advisors LLC’s holdings in EMCOR Group were worth $17,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EME. World Investment Advisors LLC bought a new stake in EMCOR Group in the 3rd quarter valued at $100,282,000. Nordea Investment Management AB increased its holdings in 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 valued at $65,036,000 after buying an additional 136,501 shares during the period. Swedbank AB increased its holdings in EMCOR Group by 399.4% in 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 during the period. Raymond James Financial Inc. bought a new stake in EMCOR Group in the 4th quarter valued at $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings 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 valued at $121,871,000 after buying an additional 88,074 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EME shares. The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. Northcoast Research started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. Stifel Nicolaus decreased their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Trading Up 4.4 %

EMCOR Group stock opened at $389.29 on Friday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a market cap of $17.70 billion, a PE ratio of 19.77 and a beta of 1.14. The company’s 50-day moving average is $442.26 and its two-hundred day moving average is $449.70.

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

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s payout ratio is presently 4.64%.

EMCOR Group announced that its Board of Directors has authorized a share repurchase 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 purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the 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 sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

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.