Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,136 Shares of EMCOR Group, Inc. (NYSE:EME)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,615 shares of the construction company’s stock after purchasing an additional 3,136 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of EMCOR Group worth $22,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in EMCOR Group by 1.5% during the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after purchasing an additional 24,541 shares during the period. Geode Capital Management LLC boosted its position in shares of EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after acquiring an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after acquiring an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in EMCOR Group by 11.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after acquiring an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after purchasing an additional 88,074 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $373.47 on Wednesday. The firm has a market cap of $16.98 billion, a P/E ratio of 18.97 and a beta of 1.14. The firm’s 50-day simple moving average is $447.07 and its 200-day simple moving average is $450.14. EMCOR Group, Inc. has a twelve month low of $314.75 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target on the stock. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Northcoast Research initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Stifel Nicolaus decreased their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.