Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in EMCOR Group, Inc. (NYSE:EME)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in EMCOR Group, Inc. (NYSE:EME) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,780 shares of the construction company’s stock after purchasing an additional 2,454 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.07% of EMCOR Group worth $16,000,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its position in EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after buying an additional 104 shares during the last quarter. SJS Investment Consulting Inc. grew 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 acquiring an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 last quarter. Whittier Trust Co. lifted its position in EMCOR Group by 40.2% during the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock valued at $127,000 after purchasing an additional 80 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in EMCOR Group by 56.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 321 shares of the construction company’s stock worth $147,000 after purchasing an additional 116 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The shares were 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 trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EME. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Stock Performance

NYSE:EME opened at $371.22 on Monday. The stock has a 50-day simple moving average of $424.19 and a two-hundred day simple moving average of $451.81. The firm has a market capitalization of $16.88 billion, a PE ratio of 18.85 and a beta of 1.14. 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 earnings results 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. Equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.27%. EMCOR Group’s payout ratio is 4.64%.

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.