National Pension Service Reduces Holdings in EMCOR Group, Inc. (NYSE:EME)

National Pension Service trimmed its stake in EMCOR Group, Inc. (NYSE:EME) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,137 shares of the construction company’s stock after selling 6,100 shares during the period. National Pension Service owned 0.21% of EMCOR Group worth $43,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position 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 acquiring an additional 24,541 shares during the period. Geode Capital Management LLC grew its stake 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 worth $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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of EMCOR Group by 11.4% in 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 grew its position in EMCOR Group by 45.2% during the third 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 buying an additional 88,074 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

EME opened at $408.33 on Friday. The firm has a market cap of $18.78 billion, a P/E ratio of 20.74 and a beta of 1.11. EMCOR Group, Inc. has a 1-year low of $305.89 and a 1-year high of $545.29. The company has a 50 day simple moving average of $459.53 and a two-hundred day simple moving average of $448.17.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EME shares. 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 target price for the company. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Finally, Stifel Nicolaus dropped their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday. 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.com, EMCOR Group has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.