Arrowstreet Capital Limited Partnership Sells 43,922 Shares of EMCOR Group, Inc. (NYSE:EME)

Arrowstreet Capital Limited Partnership lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 24.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,704 shares of the construction company’s stock after selling 43,922 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.29% of EMCOR Group worth $61,142,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Koshinski Asset Management Inc. boosted its position in EMCOR Group by 4.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock valued at $298,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC grew its position in EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after acquiring an additional 667 shares during the last quarter. PFW Advisors LLC acquired a new position in EMCOR Group in the 4th quarter worth about $689,000. Central Pacific Bank Trust Division boosted its stake in shares of EMCOR Group by 382.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,833 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,453 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of EMCOR Group by 108.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,389 shares of the construction company’s stock worth $7,439,000 after purchasing an additional 8,545 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EME. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. 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 note on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Trading Up 1.5 %

NYSE:EME opened at $375.10 on Wednesday. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 19.05 and a beta of 1.14. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The firm has a fifty day simple moving average of $418.39 and a two-hundred day simple moving average of $451.53.

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

EMCOR Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is currently 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.