AlphaQuest LLC Lowers Stake in EMCOR Group, Inc. (NYSE:EME)

AlphaQuest LLC lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,991 shares of the construction company’s stock after selling 226 shares during the period. AlphaQuest LLC’s holdings in EMCOR Group were worth $1,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EME. Janney Montgomery Scott LLC lifted its holdings in EMCOR Group by 6.9% during the third quarter. Janney Montgomery Scott LLC now owns 7,844 shares of the construction company’s stock worth $3,377,000 after buying an additional 508 shares during the period. Equitable Trust Co. lifted its holdings in EMCOR Group by 2.2% during the third quarter. Equitable Trust Co. now owns 2,810 shares of the construction company’s stock worth $1,210,000 after buying an additional 60 shares during the period. Assetmark Inc. lifted its holdings in EMCOR Group by 33.5% during the third quarter. Assetmark Inc. now owns 7,718 shares of the construction company’s stock worth $3,323,000 after buying an additional 1,935 shares during the period. Atria Investments Inc lifted its holdings in EMCOR Group by 7.7% during the third quarter. Atria Investments Inc now owns 13,259 shares of the construction company’s stock worth $5,708,000 after buying an additional 951 shares during the period. Finally, Covestor Ltd lifted its holdings in EMCOR Group by 10.1% during the third quarter. Covestor Ltd now owns 545 shares of the construction company’s stock worth $234,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

EMCOR Group Price Performance

NYSE EME opened at $376.10 on Monday. The stock’s fifty day moving average price is $450.59 and its 200 day moving average price is $450.29. EMCOR Group, Inc. has a 1 year low of $313.48 and a 1 year high of $545.29. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 19.10 and a beta of 1.14.

EMCOR Group (NYSE:EME) last released its earnings results 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. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. Research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

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

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.