United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires New Shares in EMCOR Group, Inc. (NYSE:EME)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the fourth quarter, Holdings Channel reports. The fund bought 1,600 shares of the construction company’s stock, valued at approximately $726,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in EME. Cerity Partners LLC raised its holdings in shares of EMCOR Group by 142.1% in the 3rd quarter. Cerity Partners LLC now owns 12,641 shares of the construction company’s stock valued at $5,442,000 after acquiring an additional 7,419 shares in the last quarter. Penserra Capital Management LLC raised its stake in EMCOR Group by 2,088.9% in the third quarter. Penserra Capital Management LLC now owns 4,728 shares of the construction company’s stock valued at $2,034,000 after purchasing an additional 4,512 shares in the last quarter. Swedbank AB raised its stake in EMCOR Group by 27.7% in the third quarter. Swedbank AB now owns 30,727 shares of the construction company’s stock valued at $13,229,000 after purchasing an additional 6,664 shares in the last quarter. Independent Advisor Alliance lifted its position in EMCOR Group by 25.0% during the third quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock valued at $2,261,000 after purchasing an additional 1,049 shares during the last quarter. Finally, DRW Securities LLC grew its stake in EMCOR Group by 21.4% in the 3rd quarter. DRW Securities LLC now owns 3,643 shares of the construction company’s stock worth $1,568,000 after buying an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on EME shares. Stifel Nicolaus dropped their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Price Performance

Shares of EME opened at $411.65 on Wednesday. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The company has a 50-day simple moving average of $431.76 and a two-hundred day simple moving average of $451.66. The firm has a market capitalization of $18.72 billion, a PE ratio of 20.91 and a beta of 1.14.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data 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 firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed 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 was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

EMCOR Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the 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 completion of the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

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.