Generali Asset Management SPA SGR Takes Position in EMCOR Group, Inc. (NYSE:EME)

Generali Asset Management SPA SGR bought a new position in EMCOR Group, Inc. (NYSE:EME) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,495 shares of the construction company’s stock, valued at approximately $2,948,000.

Several other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position in shares of EMCOR Group by 3.5% in the 4th quarter. Advisors Asset Management Inc. now owns 29,494 shares of the construction company’s stock worth $13,387,000 after acquiring an additional 988 shares in the last quarter. Petra Financial Advisors Inc. grew its position in shares of EMCOR Group by 1.4% in the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock worth $789,000 after acquiring an additional 24 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of EMCOR Group by 4.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,601 shares of the construction company’s stock worth $727,000 after acquiring an additional 68 shares in the last quarter. Gallacher Capital Management LLC acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $262,000. Finally, Catalyst Funds Management Pty Ltd lifted its holdings in shares of EMCOR Group by 900.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 3,000 shares of the construction company’s stock worth $1,362,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Northcoast Research assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s 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. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Performance

NYSE EME opened at $399.18 on Thursday. The stock has a market capitalization of $18.15 billion, a P/E ratio of 20.27 and a beta of 1.14. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The business’s fifty day moving average is $437.41 and its two-hundred day moving average is $449.86.

EMCOR Group (NYSE:EME) last posted its quarterly 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. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group announced that its board has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy 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.

EMCOR Group Company 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.