Sei Investments Co. Cuts Holdings in EMCOR Group, Inc. (NYSE:EME)

Sei Investments Co. lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 16.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 93,855 shares of the construction company’s stock after selling 18,711 shares during the period. Sei Investments Co.’s holdings in EMCOR Group were worth $42,600,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. raised its position in EMCOR Group by 81.6% during the fourth quarter. American Century Companies Inc. now owns 213,947 shares of the construction company’s stock valued at $97,111,000 after purchasing an additional 96,108 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of EMCOR Group during the 4th quarter valued at about $1,192,000. Wayfinding Financial LLC bought a new stake in EMCOR Group in the 4th quarter worth approximately $251,000. Oxford Financial Group LTD. LLC bought a new stake in EMCOR Group in the 4th quarter worth approximately $1,094,000. Finally, Semanteon Capital Management LP boosted its stake in EMCOR Group by 10.5% in the fourth quarter. Semanteon Capital Management LP now owns 3,147 shares of the construction company’s stock worth $1,428,000 after buying an additional 300 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Trading Up 4.7 %

Shares of NYSE:EME opened at $413.64 on Tuesday. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 21.01 and a beta of 1.14. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The company has a 50-day moving average price of $433.40 and a 200-day moving average price of $451.24.

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 analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. EMCOR Group’s dividend payout ratio is 4.64%.

EMCOR Group announced that its Board of Directors has approved a share buyback 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 reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

EME has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $497.25.

Insider Activity

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.26% of the company’s stock.

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.