Pinebridge Investments L.P. Raises Holdings in EMCOR Group, Inc. (NYSE:EME)

Pinebridge Investments L.P. lifted its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 136.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,019 shares of the construction company's stock after buying an additional 13,840 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.05% of EMCOR Group worth $10,902,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of EME. Norges Bank purchased a new position in shares of EMCOR Group in the fourth quarter worth $299,855,000. Invesco Ltd. lifted its holdings in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after buying an additional 288,765 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company's stock worth $65,036,000 after buying an additional 136,501 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after buying an additional 129,186 shares in the last quarter. Finally, Swedbank AB increased its position in EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company's stock worth $69,648,000 after purchasing an additional 122,716 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

EMCOR Group Trading Up 0.2 %

Shares of NYSE:EME traded up $1.01 during trading on Tuesday, reaching $411.27. The company's stock had a trading volume of 112,797 shares, compared to its average volume of 461,352. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The firm's 50 day simple moving average is $385.65 and its two-hundred day simple moving average is $443.60. The stock has a market capitalization of $18.53 billion, a PE ratio of 20.87 and a beta of 1.08.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating analysts' consensus estimates of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its board has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

EMCOR Group Announces Dividend

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

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm'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 $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EME has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. StockNews.com downgraded 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 stock. Based on data from MarketBeat.com, EMCOR Group currently has a consensus rating of "Moderate Buy" and an average target price of $497.25.

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.