Cibc World Markets Corp Cuts Position in EMCOR Group, Inc. (NYSE:EME)

Cibc World Markets Corp cut its holdings in EMCOR Group, Inc. (NYSE:EME) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,111 shares of the construction company’s stock after selling 627 shares during the period. Cibc World Markets Corp’s holdings in EMCOR Group were worth $958,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EME. True Wealth Design LLC lifted its holdings in EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after purchasing an additional 104 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of 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 last quarter. Prospera Private Wealth LLC bought a new position in EMCOR Group during the 3rd quarter valued at about $55,000. MassMutual Private Wealth & Trust FSB lifted its position in EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after purchasing an additional 25 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in EMCOR Group by 13.0% in the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after purchasing an additional 27 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. 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 began coverage on EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target for the company. The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. Finally, Stifel Nicolaus decreased their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock 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 currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Price Performance

Shares of NYSE EME opened at $395.11 on Friday. The business has a fifty day moving average price of $434.48 and a 200 day moving average price of $449.53. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The stock has a market capitalization of $17.97 billion, a P/E ratio of 20.07 and a beta of 1.14.

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

EMCOR Group Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is presently 4.64%.

EMCOR Group declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.26% of the stock is owned by company insiders.

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.