EMCOR Group, Inc. (NYSE:EME) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its holdings in EMCOR Group, Inc. (NYSE:EME) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,597 shares of the construction company’s stock after selling 38 shares during the quarter. Gulf International Bank UK Ltd’s holdings in EMCOR Group were worth $1,632,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. True Wealth Design LLC grew its position in shares of EMCOR Group by 3,466.7% in 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. grew its position 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 valued at $51,000 after purchasing an additional 94 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in EMCOR Group during the third quarter worth approximately $55,000. Harbor Capital Advisors Inc. acquired a new stake in EMCOR Group during the third quarter worth approximately $62,000. Finally, Rakuten Securities Inc. boosted its position in EMCOR Group by 4,025.0% during the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after acquiring an additional 161 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.4 %

NYSE:EME opened at $408.33 on Friday. The company has a market cap of $18.78 billion, a P/E ratio of 20.74 and a beta of 1.11. EMCOR Group, Inc. has a fifty-two week low of $305.89 and a fifty-two week high of $545.29. The firm’s 50 day moving average is $458.38 and its two-hundred day moving average is $448.53.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Research analysts forecast 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 buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 5.08%.

Analysts Set New Price Targets

A number of analysts recently issued reports on EME shares. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday. Northcoast Research started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price on the stock. Finally, StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.