EMCOR Group, Inc. (NYSE:EME) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in EMCOR Group, Inc. (NYSE:EME) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,800 shares of the construction company’s stock after selling 7,500 shares during the quarter. Swiss National Bank’s holdings in EMCOR Group were worth $59,824,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the period. SJS Investment Consulting Inc. boosted its holdings in shares of 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 during the period. Prospera Private Wealth LLC bought a new stake in shares of EMCOR Group during the 3rd quarter valued at about $55,000. MassMutual Private Wealth & Trust FSB raised its stake in EMCOR Group by 14.4% during the fourth 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 period. Finally, First Horizon Advisors Inc. lifted its holdings in EMCOR Group by 13.0% in the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after acquiring an additional 27 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Price Performance

Shares of EME stock opened at $389.29 on Friday. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 19.77 and a beta of 1.14. The business has a 50 day simple moving average of $442.26 and a 200 day simple moving average of $449.70.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.81 billion. On average, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

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 dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

EMCOR Group announced that its board has approved a share buyback 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 reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’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 transaction of $462,587.50. Following the sale, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.