EMCOR Group, Inc. (NYSE:EME) Shares Bought by Vestcor Inc

Vestcor Inc lifted its holdings in EMCOR Group, Inc. (NYSE:EME) by 27.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,668 shares of the construction company’s stock after purchasing an additional 994 shares during the quarter. Vestcor Inc’s holdings in EMCOR Group were worth $2,119,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in shares of EMCOR Group in the third quarter valued at approximately $100,282,000. Nordea Investment Management AB grew its stake 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 acquiring 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 worth $69,648,000 after acquiring an additional 122,716 shares in the last quarter. Raymond James Financial Inc. acquired a new position in EMCOR Group during the fourth quarter worth $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in EMCOR Group by 45.2% during the third 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 purchasing an additional 88,074 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Up 4.4 %

Shares of EME opened at $389.29 on Friday. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The stock has a fifty day simple moving average of $442.26 and a two-hundred day simple moving average of $449.22. The company has a market capitalization of $17.70 billion, a PE ratio of 19.77 and a beta of 1.14.

EMCOR Group (NYSE:EME) last issued its earnings results 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 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. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

EMCOR Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.