State of Tennessee Department of Treasury Sells 1,665 Shares of EMCOR Group, Inc. (NYSE:EME)

State of Tennessee Department of Treasury decreased its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,415 shares of the construction company's stock after selling 1,665 shares during the quarter. State of Tennessee Department of Treasury's holdings in EMCOR Group were worth $8,812,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EME. Summit Securities Group LLC bought a new position in EMCOR Group during the fourth quarter valued at about $45,000. SJS Investment Consulting Inc. increased its position in shares of EMCOR Group by 494.7% during the fourth 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 raised its stake in shares of EMCOR Group by 14.4% in the fourth 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 in the last quarter. Altshuler Shaham Ltd boosted its stake in EMCOR Group by 2,063.6% during the fourth quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock worth $108,000 after buying an additional 227 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake 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 buying an additional 28 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

EMCOR Group Trading Up 0.1 %

Shares of EME stock traded up $0.25 during trading hours on Tuesday, hitting $410.51. 101,475 shares of the company were exchanged, compared to its average volume of 461,321. The business has a 50 day moving average of $385.65 and a two-hundred day moving average of $443.60. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The company has a market capitalization of $18.50 billion, a PE ratio of 20.83 and a beta of 1.08.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (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 company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its board has initiated a stock buyback 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 stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

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

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EME. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One investment 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, the company has a consensus rating of "Moderate Buy" and an average price target of $497.25.

EMCOR Group Company 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.