EMCOR Group, Inc. (NYSE:EME) Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its holdings in EMCOR Group, Inc. (NYSE:EME) by 68.2% in the fourth quarter, Holdings Channel reports. The fund owned 7,978 shares of the construction company’s stock after buying an additional 3,236 shares during the period. Ontario Teachers Pension Plan Board’s holdings in EMCOR Group were worth $3,621,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of EMCOR Group in the fourth quarter valued at approximately $45,000. SJS Investment Consulting Inc. grew its holdings in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after buying an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after acquiring an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of EMCOR Group during the 4th quarter worth $126,000. Finally, Whittier Trust Co. boosted its position in shares of EMCOR Group by 40.2% during the 4th 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. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

NYSE:EME opened at $386.26 on Tuesday. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The company has a 50 day moving average price of $396.63 and a 200 day moving average price of $447.11. The stock has a market capitalization of $17.56 billion, a P/E ratio of 19.62 and a beta of 1.08.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping the consensus estimate of $5.53 by $0.79. The business had revenue of $3.77 billion during 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%. Research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

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

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

Analyst Ratings Changes

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

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’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 sale, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This 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 can be accessed through 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.