EMCOR Group, Inc. (NYSE:EME) Stock Position Lifted by Argent Trust Co

Argent Trust Co increased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 9.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,208 shares of the construction company’s stock after buying an additional 195 shares during the quarter. Argent Trust Co’s holdings in EMCOR Group were worth $1,002,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of EMCOR Group in the 4th quarter worth $45,000. SJS Investment Consulting Inc. grew its position in EMCOR Group by 494.7% during the fourth 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 acquiring an additional 25 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of EMCOR Group during the 4th quarter worth about $126,000. Finally, Whittier Trust Co. lifted its stake in EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock valued at $127,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

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

EMCOR Group Stock Performance

EME opened at $383.72 on Friday. The firm has a market cap of $17.45 billion, a P/E ratio of 19.49 and a beta of 1.08. The business’s fifty day moving average is $398.04 and its 200-day moving average is $447.28. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

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 the consensus estimate of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. On average, research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

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

EMCOR Group announced that its board has authorized a share buyback plan on Wednesday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction 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 directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.