Nomura Asset Management Co. Ltd. Sells 69 Shares of EMCOR Group, Inc. (NYSE:EME)

Nomura Asset Management Co. Ltd. decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 0.3% in the fourth quarter, HoldingsChannel reports. The fund owned 20,348 shares of the construction company’s stock after selling 69 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in EMCOR Group were worth $9,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Koshinski Asset Management Inc. increased its position in EMCOR Group by 4.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock valued at $311,000 after acquiring an additional 667 shares during the period. PFW Advisors LLC purchased a new stake in EMCOR Group in the 4th quarter worth approximately $689,000. Verition Fund Management LLC raised its stake in EMCOR Group by 390.2% during the 3rd quarter. Verition Fund Management LLC now owns 15,623 shares of the construction company’s stock worth $6,726,000 after acquiring an additional 12,436 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in EMCOR Group during the third quarter valued at approximately $3,354,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction 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.

EMCOR Group Price Performance

Shares of EME opened at $369.33 on Tuesday. The firm has a market cap of $16.79 billion, a P/E ratio of 18.76 and a beta of 1.14. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a 50 day simple moving average of $421.43 and a two-hundred day simple moving average of $451.68.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its board has initiated a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s payout ratio is presently 4.64%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EME shares. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut 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. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.