EMCOR Group, Inc. (NYSE:EME) Stake Lowered by US Bancorp DE

US Bancorp DE trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,069 shares of the construction company’s stock after selling 1,371 shares during the period. US Bancorp DE’s holdings in EMCOR Group were worth $5,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EME. State Street Corp raised its stake in shares of EMCOR Group by 1.5% during the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after purchasing an additional 24,541 shares in the last quarter. Geode Capital Management LLC increased its holdings in EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after buying an additional 49,137 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in EMCOR Group by 21.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after acquiring an additional 75,578 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in EMCOR Group by 11.4% in the third 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 acquiring an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in EMCOR Group by 45.2% in the third 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

EMCOR Group Price Performance

Shares of EME opened at $388.31 on Wednesday. The company has a market capitalization of $17.66 billion, a PE ratio of 19.72 and a beta of 1.11. EMCOR Group, Inc. has a one year low of $313.48 and a one year high of $545.29. The company’s fifty day moving average price is $455.52 and its 200 day moving average price is $450.05.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 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 business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. Analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

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

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued 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 dividend yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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.