EMCOR Group, Inc. (NYSE:EME) Stock Position Reduced by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,495 shares of the construction company’s stock after selling 1,188 shares during the period. HighTower Advisors LLC owned about 0.09% of EMCOR Group worth $17,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EME. World Investment Advisors LLC purchased a new position in EMCOR Group during the third quarter valued at approximately $100,282,000. Nordea Investment Management AB grew its position in EMCOR Group by 2,246.2% during the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after purchasing an additional 136,501 shares in the last quarter. Swedbank AB grew its position in EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock worth $69,648,000 after acquiring an additional 122,716 shares in the last quarter. Raymond James Financial Inc. bought a new stake in EMCOR Group in the fourth quarter worth approximately $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after acquiring an additional 88,074 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. Northcoast Research assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. Finally, Stifel Nicolaus decreased 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 report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Trading Up 4.4 %

Shares of EMCOR Group stock opened at $389.29 on Friday. The firm has a fifty day simple moving average of $442.26 and a 200-day simple moving average of $449.70. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 19.77 and a beta of 1.14.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data 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 analysts’ expectations of $3.81 billion. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group declared that its board has approved a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.