JPMorgan Chase & Co. Grows Position in EMCOR Group, Inc. (NYSE:EME)

JPMorgan Chase & Co. boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 270,348 shares of the construction company’s stock after acquiring an additional 27,068 shares during the period. JPMorgan Chase & Co.’s holdings in EMCOR Group were worth $122,711,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in EMCOR Group by 0.7% in the third quarter. Bank of Montreal Can now owns 12,261 shares of the construction company’s stock valued at $5,237,000 after acquiring an additional 82 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of EMCOR Group by 140.0% during the 3rd quarter. Walleye Capital LLC now owns 4,407 shares of the construction company’s stock worth $1,897,000 after purchasing an additional 2,571 shares during the period. Captrust Financial Advisors increased its position in EMCOR Group by 14.2% during the 3rd quarter. Captrust Financial Advisors now owns 5,670 shares of the construction company’s stock worth $2,441,000 after purchasing an additional 703 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in EMCOR Group by 168.1% in the third quarter. Benjamin Edwards Inc. now owns 2,898 shares of the construction company’s stock valued at $1,248,000 after buying an additional 1,817 shares during the period. Finally, Hilltop Holdings Inc. lifted its position in EMCOR Group by 122.4% during the third quarter. Hilltop Holdings Inc. now owns 1,488 shares of the construction company’s stock valued at $640,000 after buying an additional 819 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a 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 investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $375.10 on Wednesday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The stock’s 50-day simple moving average is $418.39 and its 200-day simple moving average is $451.53. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of 19.05 and a beta of 1.14.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data 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. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

EMCOR Group declared that its board has approved a share repurchase program on Wednesday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following 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 document filed with the SEC, which can be accessed through this hyperlink. 1.26% of the stock is owned by company insiders.

EMCOR Group 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.