EMCOR Group, Inc. (NYSE:EME) Short Interest Update

EMCOR Group, Inc. (NYSE:EME) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 934,600 shares, an increase of 17.0% from the February 13th total of 798,900 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 477,000 shares, the short-interest ratio is presently 2.0 days.

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $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 accessible through the SEC website. 1.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On EMCOR Group

A number of hedge funds and other institutional investors have recently modified their holdings of EME. Koshinski Asset Management Inc. lifted its position in EMCOR Group by 4.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after buying an additional 26 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in EMCOR Group by 3,510.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after buying an additional 667 shares during the last quarter. Independent Advisor Alliance lifted its position in EMCOR Group by 25.0% in the 3rd quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock worth $2,261,000 after buying an additional 1,049 shares during the last quarter. PFW Advisors LLC bought a new stake in EMCOR Group in the 4th quarter worth approximately $689,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in EMCOR Group by 46.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,066 shares of the construction company’s stock worth $28,874,000 after buying an additional 21,385 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EME shares. Stifel Nicolaus lowered their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Finally, Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Price Performance

NYSE EME traded up $3.12 during trading on Thursday, reaching $401.66. The company’s stock had a trading volume of 209,727 shares, compared to its average volume of 427,324. The stock has a market capitalization of $18.26 billion, a PE ratio of 20.40 and a beta of 1.14. The firm has a fifty day moving average of $437.41 and a 200 day moving average of $449.86. EMCOR Group has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating 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 net margin of 6.51% and a return on equity of 34.99%. Research analysts expect that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. EMCOR Group’s dividend payout ratio is presently 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.