Axa S.A. Acquires 23,623 Shares of EMCOR Group, Inc. (NYSE:EME)

AXA S.A. lifted its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 57.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,731 shares of the construction company's stock after purchasing an additional 23,623 shares during the period. AXA S.A. owned 0.14% of EMCOR Group worth $29,381,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of EMCOR Group during the 4th quarter valued at about $299,855,000. Invesco Ltd. raised its position in shares of EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after acquiring an additional 288,765 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of EMCOR Group by 2,246.2% during the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company's stock valued at $65,036,000 after purchasing an additional 136,501 shares in the last quarter. First Trust Advisors LP grew its stake in EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after purchasing an additional 129,186 shares during the period. Finally, Swedbank AB boosted its holdings in shares of EMCOR Group by 399.4% during the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company's stock valued at $69,648,000 after buying an additional 122,716 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

Shares of EME stock traded down $1.03 during trading hours on Friday, reaching $439.21. The company had a trading volume of 219,888 shares, compared to its average volume of 467,251. The firm has a market cap of $19.66 billion, a PE ratio of 22.31 and a beta of 1.18. The business has a fifty day moving average price of $389.79 and a 200-day moving average price of $442.18. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.17 EPS. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced 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 reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, April 17th. EMCOR Group's payout ratio is currently 4.42%.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value 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 $10,229,474.94. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,197 shares of company stock worth $3,905,748 in the last quarter. Company insiders own 1.26% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on EME. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Stifel Nicolaus dropped their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $494.50.

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.