J. Safra Sarasin Holding AG Trims Position in EMCOR Group, Inc. (NYSE:EME)

J. Safra Sarasin Holding AG trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 68.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,180 shares of the construction company's stock after selling 4,701 shares during the period. J. Safra Sarasin Holding AG's holdings in EMCOR Group were worth $990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its position in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after purchasing an additional 288,765 shares during the last quarter. Geode Capital Management LLC raised its stake in EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after acquiring an additional 25,502 shares during the last quarter. Norges Bank acquired a new stake in EMCOR Group during the 4th quarter worth approximately $299,855,000. First Trust Advisors LP grew its stake in shares of EMCOR Group by 35.2% in the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after purchasing an additional 129,186 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of EMCOR Group by 21.3% in 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 during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm'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 transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares of the company's stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective 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 cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One research 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 an average rating of "Moderate Buy" and an average target price of $497.25.

EMCOR Group Trading Up 0.1 %

Shares of NYSE:EME traded up $0.29 on Tuesday, reaching $410.55. 101,475 shares of the company were exchanged, compared to its average volume of 461,321. The company has a 50-day moving average of $385.65 and a 200-day moving average of $443.60. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of 20.83 and a beta of 1.08. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share 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 analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

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

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.24%. EMCOR Group's dividend payout ratio (DPR) is currently 4.64%.

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.