Intech Investment Management LLC Purchases 45,484 Shares of EMCOR Group, Inc. (NYSE:EME)

Intech Investment Management LLC boosted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 65.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,293 shares of the construction company’s stock after buying an additional 45,484 shares during the period. EMCOR Group makes up about 1.6% of Intech Investment Management LLC’s portfolio, making the stock its 17th biggest holding. Intech Investment Management LLC owned about 0.25% of EMCOR Group worth $52,331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Huntington National Bank boosted its stake in EMCOR Group by 25.3% during the third quarter. Huntington National Bank now owns 317 shares of the construction company’s stock valued at $136,000 after buying an additional 64 shares during the last quarter. Metis Global Partners LLC boosted its stake in EMCOR Group by 9.2% during the third quarter. Metis Global Partners LLC now owns 1,462 shares of the construction company’s stock valued at $629,000 after buying an additional 123 shares during the last quarter. CIBC Asset Management Inc boosted its stake in EMCOR Group by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock valued at $587,000 after buying an additional 43 shares during the last quarter. Mount Lucas Management LP boosted its stake in EMCOR Group by 2.5% during the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock valued at $598,000 after buying an additional 34 shares during the last quarter. Finally, Claro Advisors LLC bought a new position in EMCOR Group during the third quarter valued at approximately $219,000. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus dropped their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group initiated coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Northcoast Research initiated coverage on EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Performance

Shares of EME stock opened at $394.91 on Tuesday. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm has a market capitalization of $17.96 billion, a P/E ratio of 20.06 and a beta of 1.14. The stock has a 50 day moving average price of $440.59 and a 200 day moving average price of $450.26.

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

EMCOR Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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.