Teacher Retirement System of Texas Acquires 32,928 Shares of EMCOR Group, Inc. (NYSE:EME)

Teacher Retirement System of Texas increased its holdings in EMCOR Group, Inc. (NYSE:EME) by 41.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,142 shares of the construction company’s stock after purchasing an additional 32,928 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.25% of EMCOR Group worth $51,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Perigon Wealth Management LLC grew its stake in shares of EMCOR Group by 2.5% in the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock worth $353,000 after purchasing an additional 19 shares during the last quarter. Adirondack Trust Co. grew its stake in shares of EMCOR Group by 5.0% in the fourth quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after purchasing an additional 20 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of EMCOR Group by 1.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock worth $521,000 after purchasing an additional 21 shares during the last quarter. Petra Financial Advisors Inc. grew its stake in shares of EMCOR Group by 1.4% in the fourth quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock worth $789,000 after purchasing an additional 24 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

EME stock opened at $400.31 on Friday. The firm has a 50 day moving average price of $435.92 and a 200-day moving average price of $449.51. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm has a market capitalization of $18.20 billion, a price-to-earnings ratio of 20.33 and a beta of 1.14.

EMCOR Group (NYSE:EME) last released 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. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates 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 fiscal year.

EMCOR Group announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in 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 generally an indication that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. EMCOR Group’s payout ratio is currently 4.64%.

Insider Buying and Selling

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 shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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