Lecap Asset Management Ltd. Buys New Stake in EMCOR Group, Inc. (NYSE:EME)

Lecap Asset Management Ltd. purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,895 shares of the construction company's stock, valued at approximately $1,055,000.

A number of other hedge funds also recently modified their holdings of EME. Norges Bank bought a new position in EMCOR Group during the fourth quarter worth $63,867,000. JPMorgan Chase & Co. raised its stake in EMCOR Group by 96.7% during the first quarter. JPMorgan Chase & Co. now owns 651,082 shares of the construction company's stock worth $105,859,000 after buying an additional 320,153 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in EMCOR Group by 41.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company's stock worth $224,813,000 after buying an additional 310,718 shares during the last quarter. Pacer Advisors Inc. raised its stake in EMCOR Group by 3,091.7% during the fourth quarter. Pacer Advisors Inc. now owns 313,998 shares of the construction company's stock worth $67,645,000 after buying an additional 304,160 shares during the last quarter. Finally, Morgan Stanley raised its stake in EMCOR Group by 103.1% during the fourth quarter. Morgan Stanley now owns 521,712 shares of the construction company's stock worth $77,271,000 after buying an additional 264,826 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Price Performance

Shares of NYSE EME traded down $0.52 during mid-day trading on Friday, reaching $351.88. 373,954 shares of the company's stock traded hands, compared to its average volume of 386,132. The stock has a market cap of $16.56 billion, a P/E ratio of 26.44 and a beta of 1.10. The business has a 50-day simple moving average of $309.31 and a 200 day simple moving average of $246.61. EMCOR Group, Inc. has a 1-year low of $154.00 and a 1-year high of $369.53.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.96. The firm had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The business's revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $2.63 earnings per share. Equities research analysts anticipate that EMCOR Group, Inc. will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 15th. This is a boost from EMCOR Group's previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.28%. EMCOR Group's payout ratio is 7.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EME shares. DA Davidson reaffirmed a "buy" rating and issued a $375.00 price target on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp started coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They issued a "sector weight" rating for the company.

Insider Buying and Selling

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the business's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the transaction, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.