Teza Capital Management LLC raised its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 55.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,497 shares of the construction company's stock after purchasing an additional 534 shares during the quarter. Teza Capital Management LLC's holdings in EMCOR Group were worth $679,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of EMCOR Group in the 4th quarter valued at $45,000. SJS Investment Consulting Inc. lifted its holdings in shares of EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of EMCOR Group by 24.3% during the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after acquiring an additional 26 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after acquiring an additional 25 shares in the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in shares of EMCOR Group by 2,063.6% during the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock valued at $108,000 after acquiring an additional 227 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.
EMCOR Group Price Performance
Shares of EME stock opened at $469.62 on Tuesday. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The firm has a market capitalization of $21.02 billion, a P/E ratio of 23.85 and a beta of 1.18. The company's fifty day moving average price is $400.62 and its two-hundred day moving average price is $443.36.
EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business posted $4.17 EPS. The firm's revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.
EMCOR Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.
EMCOR Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. EMCOR Group's dividend payout ratio is currently 4.42%.
Insiders Place Their Bets
In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the business'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 completion of the sale, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly owns 208,989 shares of the company's stock, valued at $91,125,473.67. The trade was a 3.24% 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. 0.83% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on EME. StockNews.com lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus reduced their target price on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $494.50.
Check Out Our Latest Stock Report on EMCOR Group
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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