First Trust Advisors LP Has $225.33 Million Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

First Trust Advisors LP grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 35.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 496,436 shares of the construction company’s stock after buying an additional 129,186 shares during the quarter. First Trust Advisors LP’s holdings in EMCOR Group were worth $225,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Invesco Ltd. raised its stake in EMCOR Group by 28.0% during the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock worth $598,465,000 after buying an additional 288,765 shares during the period. Geode Capital Management LLC raised its holdings in EMCOR Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock worth $463,320,000 after buying an additional 25,502 shares during the last quarter. Norges Bank bought a new position in shares of EMCOR Group in the fourth quarter valued at $299,855,000. Allspring Global Investments Holdings LLC grew its holdings in shares of EMCOR Group by 21.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after buying an additional 75,578 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of EMCOR Group by 11.1% during the fourth quarter. JPMorgan Chase & Co. now owns 270,348 shares of the construction company’s stock worth $122,711,000 after acquiring an additional 27,068 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other EMCOR Group 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 sale, 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 filing with the SEC, which is available through this link. 1.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus dropped 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. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Stock Performance

NYSE:EME opened at $378.61 on Friday. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The firm has a 50-day moving average price of $390.41 and a two-hundred day moving average price of $445.69. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of 19.23 and a beta of 1.08.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS 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 during the quarter, compared to the consensus estimate of $3.81 billion. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has authorized a stock repurchase program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group’s payout ratio is 4.64%.

EMCOR Group Company 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.