Picton Mahoney Asset Management Buys 239 Shares of EMCOR Group, Inc. (NYSE:EME)

Picton Mahoney Asset Management increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,104 shares of the construction company’s stock after purchasing an additional 239 shares during the quarter. Picton Mahoney Asset Management’s holdings in EMCOR Group were worth $501,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Koshinski Asset Management Inc. increased its stake in shares of EMCOR Group by 4.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. Wolff Wiese Magana LLC grew its position in EMCOR Group by 3,510.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock valued at $311,000 after acquiring an additional 667 shares during the last quarter. Independent Advisor Alliance grew its position in EMCOR Group by 25.0% in the third quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock valued at $2,261,000 after acquiring an additional 1,049 shares during the last quarter. PFW Advisors LLC acquired a new position in EMCOR Group during the fourth quarter worth about $689,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of EMCOR Group by 46.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,066 shares of the construction company’s stock worth $28,874,000 after acquiring an additional 21,385 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $389.29 on Monday. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The firm has a market cap of $17.70 billion, a PE ratio of 19.77 and a beta of 1.14. The firm’s fifty day moving average is $442.26 and its 200-day moving average is $450.19.

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

EMCOR Group announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in 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 management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is presently 4.64%.

Analyst Upgrades and Downgrades

EME has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. Northcoast Research started coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus lowered their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment 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.com, EMCOR Group has a consensus 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.