Holderness Investments Co. Acquires 444 Shares of EMCOR Group, Inc. (NYSE:EME)

Holderness Investments Co. boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 25.8% during the 4th quarter, Holdings Channel reports. The firm owned 2,163 shares of the construction company’s stock after buying an additional 444 shares during the period. Holderness Investments Co.’s holdings in EMCOR Group were worth $982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in EMCOR Group by 3,466.7% during the 3rd 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 period. SJS Investment Consulting Inc. raised its stake in EMCOR Group by 494.7% during the 4th 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 period. Prospera Private Wealth LLC bought a new stake in EMCOR Group during the 3rd quarter valued at approximately $55,000. MassMutual Private Wealth & Trust FSB raised its stake in EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after purchasing an additional 25 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after purchasing an additional 27 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $400.31 on Friday. The stock has a market cap of $18.20 billion, a price-to-earnings ratio of 20.33 and a beta of 1.14. The stock has a 50 day moving average price of $435.92 and a 200-day moving average price of $449.51. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion during 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%. Sell-side analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EME. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group began coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective on the stock. Northcoast Research began coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Stifel Nicolaus reduced their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One investment 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, the stock currently has an average 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.