Advisors Asset Management Inc. Purchases 988 Shares of EMCOR Group, Inc. (NYSE:EME)

Advisors Asset Management Inc. grew its position in EMCOR Group, Inc. (NYSE:EME) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,494 shares of the construction company’s stock after buying an additional 988 shares during the period. Advisors Asset Management Inc.’s holdings in EMCOR Group were worth $13,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in shares of EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after acquiring an additional 24,541 shares during the period. Geode Capital Management LLC grew its position in shares of EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after acquiring an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after acquiring an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of EMCOR Group by 11.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock valued at $144,016,000 after acquiring an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after acquiring an additional 88,074 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on EME shares. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Northcoast Research started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus reduced their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Stock Up 1.6 %

NYSE EME opened at $394.91 on Tuesday. The company has a market capitalization of $17.96 billion, a P/E ratio of 20.06 and a beta of 1.14. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The firm has a 50-day moving average price of $440.59 and a two-hundred day moving average price of $450.26.

EMCOR Group (NYSE:EME) 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. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 4.64%.

EMCOR Group declared that its Board of Directors has approved a stock repurchase 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 management believes its shares are undervalued.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group 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 $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.26% of the company’s stock.

EMCOR Group 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.