Mitsubishi UFJ Trust & Banking Corp Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,771 shares of the construction company’s stock after selling 12,826 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of EMCOR Group worth $15,329,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EME. World Investment Advisors LLC bought a new stake in EMCOR Group during the third quarter valued at approximately $100,282,000. Nordea Investment Management AB lifted its holdings in shares of EMCOR Group by 2,246.2% during the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after acquiring an additional 136,501 shares during 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. American Century Companies Inc. increased its stake in EMCOR Group by 81.6% in the fourth quarter. American Century Companies Inc. now owns 213,947 shares of the construction company’s stock valued at $97,111,000 after acquiring an additional 96,108 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in EMCOR Group during the fourth quarter valued at about $42,380,000. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Trading Down 2.1 %

EME opened at $371.22 on Friday. The company has a market cap of $16.88 billion, a P/E ratio of 18.85 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 business’s 50-day moving average price is $424.19 and its 200-day moving average price is $450.79.

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

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group declared that its board has initiated a share repurchase program on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EME. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus reduced their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was 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. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

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.