EMCOR Group, Inc. (NYSE:EME) Stock Holdings Lifted by Paralel Advisors LLC

Paralel Advisors LLC boosted its position in EMCOR Group, Inc. (NYSE:EME) by 9.9% during the 4th quarter, HoldingsChannel reports. The firm owned 7,167 shares of the construction company’s stock after buying an additional 648 shares during the quarter. Paralel Advisors LLC’s holdings in EMCOR Group were worth $3,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of EME. Bessemer Group Inc. raised its position in shares of EMCOR Group by 18.4% during the 4th quarter. Bessemer Group Inc. now owns 1,550 shares of the construction company’s stock worth $703,000 after buying an additional 241 shares in the last quarter. Evexia Wealth LLC raised its position in shares of EMCOR Group by 2.2% during the 4th quarter. Evexia Wealth LLC now owns 6,986 shares of the construction company’s stock worth $3,226,000 after buying an additional 153 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of EMCOR Group during the 4th quarter worth about $2,354,000. Raymond James Financial Inc. bought a new stake in shares of EMCOR Group during the 4th quarter worth about $42,380,000. Finally, Straightline Group LLC bought a new stake in shares of EMCOR Group during the 4th quarter worth about $254,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EME has been the topic of several 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 on the stock in a research note on Thursday, February 27th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Stock Performance

EME traded down $12.46 during trading on Thursday, reaching $378.54. 17,762 shares of the stock were exchanged, compared to its average volume of 462,845. The stock’s 50 day moving average price is $400.70 and its two-hundred day moving average price is $448.02. The stock has a market cap of $17.21 billion, a P/E ratio of 19.22 and a beta of 1.08. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. EMCOR Group’s payout ratio is presently 4.64%.

EMCOR Group declared that its Board of Directors has initiated a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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.