Meritage Portfolio Management Grows Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Meritage Portfolio Management increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 20.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,884 shares of the construction company’s stock after purchasing an additional 987 shares during the quarter. Meritage Portfolio Management’s holdings in EMCOR Group were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EME. Fuller & Thaler Asset Management Inc. raised its stake in EMCOR Group by 41.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company’s stock worth $224,813,000 after acquiring an additional 310,718 shares in the last quarter. Pacer Advisors Inc. increased its stake in EMCOR Group by 3,091.7% in the fourth quarter. Pacer Advisors Inc. now owns 313,998 shares of the construction company’s stock valued at $67,645,000 after purchasing an additional 304,160 shares during the period. Invesco Ltd. increased its stake in EMCOR Group by 40.1% in the third quarter. Invesco Ltd. now owns 919,304 shares of the construction company’s stock valued at $193,412,000 after purchasing an additional 263,330 shares during the period. FMR LLC increased its stake in EMCOR Group by 7.3% in the third quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock valued at $747,239,000 after purchasing an additional 241,920 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of EMCOR Group by 155.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 325,625 shares of the construction company’s stock worth $68,509,000 after acquiring an additional 198,214 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EME shares. KeyCorp started coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. DA Davidson reaffirmed a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a report on Friday, March 22nd.

EMCOR Group Price Performance

EME stock traded up $3.88 on Friday, hitting $353.23. 343,222 shares of the company were exchanged, compared to its average volume of 423,936. EMCOR Group, Inc. has a twelve month low of $161.49 and a twelve month high of $369.53. The business’s fifty day moving average is $326.74 and its two-hundred day moving average is $254.57. The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 26.46 and a beta of 1.10.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $1.25. The company had revenue of $3.43 billion during the quarter. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. Equities research analysts expect that EMCOR Group, Inc. will post 14.5 earnings per share for the current year.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be given a $0.25 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 7.51%.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 6,000 shares of the 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 sale, the chief executive officer now owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.