BNP Paribas Financial Markets Reduces Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

BNP Paribas Financial Markets cut its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 31.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,371 shares of the construction company's stock after selling 29,003 shares during the quarter. BNP Paribas Financial Markets owned 0.14% of EMCOR Group worth $28,764,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EME. Ameriprise Financial Inc. lifted its holdings in EMCOR Group by 94.2% during the fourth quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock valued at $139,349,000 after purchasing an additional 148,915 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in EMCOR Group by 23.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 685 shares of the construction company's stock worth $311,000 after buying an additional 129 shares in the last quarter. AXA S.A. raised its holdings in shares of EMCOR Group by 57.5% during the fourth quarter. AXA S.A. now owns 64,731 shares of the construction company's stock valued at $29,381,000 after acquiring an additional 23,623 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of EMCOR Group by 2.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 289,343 shares of the construction company's stock worth $131,333,000 after acquiring an additional 6,271 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of EMCOR Group during the fourth quarter worth approximately $32,649,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the transaction, the chief executive officer now owns 208,989 shares of the company's stock, valued at $91,125,473.67. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now directly owns 7,094 shares in the company, valued at $2,928,616.02. This represents a 11.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,197 shares of company stock valued at $3,905,748. 0.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on EME. Stifel Nicolaus lowered their target price on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $494.50.

EMCOR Group Price Performance

Shares of EME stock traded down $1.03 during trading on Friday, hitting $439.21. 219,888 shares of the stock traded hands, compared to its average volume of 467,251. The firm has a market capitalization of $19.66 billion, a P/E ratio of 22.31 and a beta of 1.18. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm's fifty day moving average price is $389.79 and its 200-day moving average price is $442.18.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $4.17 EPS. As a group, equities research 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 approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. EMCOR Group's dividend payout ratio is currently 4.42%.

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.