Mitsubishi UFJ Trust & Banking Corp Cuts Position in EMCOR Group, Inc. (NYSE:EME)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 27.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,771 shares of the construction company’s stock after selling 12,826 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in EMCOR Group were worth $15,329,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after buying an additional 104 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA grew its position in EMCOR Group by 153.6% during the 3rd quarter. Private Trust Co. NA now owns 246 shares of the construction company’s stock valued at $106,000 after purchasing an additional 149 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock worth $127,000 after buying an additional 80 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

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 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 transaction, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Down 2.1 %

EME opened at $371.22 on Friday. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 18.85 and a beta of 1.14. The firm has a 50 day moving average price of $424.19 and a 200-day moving average price of $450.79. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

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

EMCOR Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors 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 $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.27%. EMCOR Group’s payout ratio is 4.64%.

Analysts Set New Price Targets

Several equities 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. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $497.25.

About EMCOR Group

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.