US Bancorp DE Sells 1,371 Shares of EMCOR Group, Inc. (NYSE:EME)

US Bancorp DE trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,069 shares of the construction company’s stock after selling 1,371 shares during the period. US Bancorp DE’s holdings in EMCOR Group were worth $5,932,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares during the period. Prospera Private Wealth LLC acquired a new stake in EMCOR Group during the third quarter worth $55,000. Harbor Capital Advisors Inc. bought a new stake in EMCOR Group in the 3rd quarter valued at $62,000. Finally, Rakuten Securities Inc. increased its holdings in EMCOR Group by 4,025.0% in the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock valued at $71,000 after buying an additional 161 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective 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. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price target for the company. Northcoast Research assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 1.9 %

Shares of EMCOR Group stock opened at $388.31 on Wednesday. The stock has a market capitalization of $17.66 billion, a P/E ratio of 19.72 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 company has a 50-day simple moving average of $455.52 and a 200 day simple moving average of $450.05.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data 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. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its Board of Directors has approved a stock repurchase 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 buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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 given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s payout ratio is 4.64%.

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.