KLP Kapitalforvaltning AS Takes Position in EMCOR Group, Inc. (NYSE:EME)

KLP Kapitalforvaltning AS purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 48,600 shares of the construction company’s stock, valued at approximately $22,060,000. KLP Kapitalforvaltning AS owned approximately 0.11% of EMCOR Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC raised its holdings in EMCOR Group by 0.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 9,571 shares of the construction company’s stock worth $4,344,000 after acquiring an additional 82 shares during the period. American Century Companies Inc. raised its holdings in EMCOR Group by 81.6% in the 4th quarter. American Century Companies Inc. now owns 213,947 shares of the construction company’s stock worth $97,111,000 after acquiring an additional 96,108 shares during the period. Quantbot Technologies LP bought a new position in EMCOR Group in the 4th quarter worth $1,192,000. Wayfinding Financial LLC bought a new position in EMCOR Group in the 4th quarter worth $251,000. Finally, Oxford Financial Group LTD. LLC bought a new position in EMCOR Group in the 4th quarter worth $1,094,000. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

NYSE EME opened at $395.11 on Friday. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 20.07 and a beta of 1.14. The company’s fifty day moving average is $434.48 and its two-hundred day moving average is $450.16. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

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, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

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

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EME. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their target price 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 analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

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.