100 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by Summit Securities Group LLC

Summit Securities Group LLC bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the fourth quarter, Holdings Channel.com reports. The firm bought 100 shares of the construction company’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after acquiring an additional 24,541 shares during the period. Geode Capital Management LLC increased its holdings in shares of EMCOR Group by 5.2% during the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after purchasing an additional 49,137 shares during the period. Norges Bank acquired a new position in shares of EMCOR Group during the fourth quarter valued at $299,855,000. Allspring Global Investments Holdings LLC raised its stake in shares of 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 purchasing an additional 75,578 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $144,016,000 after purchasing an additional 34,226 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

EME has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock 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 report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, EMCOR Group has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Trading Down 2.1 %

NYSE:EME opened at $371.22 on Monday. The company has a 50-day moving average of $424.19 and a 200-day moving average of $451.81. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 18.85 and a beta of 1.14.

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

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors 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 dividend on an annualized basis and a dividend yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

EMCOR Group announced that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’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 completion of the sale, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by company insiders.

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.