Intech Investment Management LLC Increases Position in EMCOR Group, Inc. (NYSE:EME)

Intech Investment Management LLC increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 65.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,293 shares of the construction company’s stock after buying an additional 45,484 shares during the quarter. EMCOR Group accounts for about 1.6% of Intech Investment Management LLC’s portfolio, making the stock its 17th largest position. Intech Investment Management LLC’s holdings in EMCOR Group were worth $52,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EME. Huntington National Bank grew its stake in EMCOR Group by 25.3% during the 3rd quarter. Huntington National Bank now owns 317 shares of the construction company’s stock worth $136,000 after buying an additional 64 shares during the last quarter. Metis Global Partners LLC grew its stake in EMCOR Group by 9.2% during the 3rd quarter. Metis Global Partners LLC now owns 1,462 shares of the construction company’s stock worth $629,000 after buying an additional 123 shares during the last quarter. CIBC Asset Management Inc grew its stake in EMCOR Group by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock worth $587,000 after buying an additional 43 shares during the last quarter. Mount Lucas Management LP grew its stake in EMCOR Group by 2.5% during the 3rd quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock worth $598,000 after buying an additional 34 shares during the last quarter. Finally, Claro Advisors LLC purchased a new position in EMCOR Group during the 3rd quarter worth $219,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now 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 can be accessed through this hyperlink. 1.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

EMCOR Group Stock Up 1.6 %

Shares of EME stock opened at $394.91 on Tuesday. The stock has a market cap of $17.96 billion, a PE ratio of 20.06 and a beta of 1.14. The business has a 50-day simple moving average of $440.59 and a 200-day simple moving average of $450.26. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.79. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. Sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

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

EMCOR Group Company 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.