Cornerstone Investment Partners LLC Acquires 60 Shares of EMCOR Group, Inc. (NYSE:EME)

Cornerstone Investment Partners LLC increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,809 shares of the construction company’s stock after buying an additional 60 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in EMCOR Group were worth $821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Koshinski Asset Management Inc. lifted its stake in shares of EMCOR Group by 4.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after acquiring an additional 26 shares during the last quarter. Cumberland Partners Ltd lifted its stake in shares of EMCOR Group by 60.0% during the 3rd quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock worth $1,722,000 after acquiring an additional 1,500 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after acquiring an additional 667 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of EMCOR Group by 173.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company’s stock worth $23,473,000 after acquiring an additional 34,553 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in EMCOR Group by 25.0% during the 3rd quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock valued at $2,261,000 after purchasing an additional 1,049 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Trading Down 3.2 %

EME opened at $395.73 on Tuesday. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 20.10 and a beta of 1.11. EMCOR Group, Inc. has a 12 month low of $313.48 and a 12 month high of $545.29. The stock has a fifty day moving average price of $457.03 and a 200-day moving average price of $449.90.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EME shares. Stifel Nicolaus decreased their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Northcoast Research started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Finally, StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.