Ensign Peak Advisors Inc grew its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,634 shares of the construction company's stock after acquiring an additional 1,837 shares during the quarter. Ensign Peak Advisors Inc owned about 0.07% of EMCOR Group worth $14,813,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of EMCOR Group in the 4th quarter valued at about $45,000. SJS Investment Consulting Inc. boosted its position in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after purchasing an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after purchasing an additional 25 shares during the period. Altshuler Shaham Ltd boosted its position in shares of EMCOR Group by 2,063.6% in the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock valued at $108,000 after purchasing an additional 227 shares during the period. Finally, GeoWealth Management LLC boosted its position in shares of EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after purchasing an additional 28 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.
Insider Transactions 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 of the company's stock, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,094 shares of the company's stock, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,197 shares of company stock valued at $3,905,748. Corporate insiders own 0.83% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on EME. Stifel Nicolaus decreased their target price on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $494.50.
Read Our Latest Stock Analysis on EMCOR Group
EMCOR Group Stock Performance
EMCOR Group stock traded up $7.04 during mid-day trading on Friday, reaching $471.33. 424,039 shares of the company were exchanged, compared to its average volume of 471,770. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The firm's 50-day simple moving average is $398.87 and its two-hundred day simple moving average is $443.27. The firm has a market cap of $21.10 billion, a PE ratio of 23.94 and a beta of 1.18.
EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the firm earned $4.17 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.
EMCOR Group declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
EMCOR Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is 4.42%.
About EMCOR Group
(
Free Report)
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.
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