Summit Securities Group LLC Takes Position in EMCOR Group, Inc. (NYSE:EME)

Summit Securities Group LLC purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 100 shares of the construction company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Schroder Investment Management Group lifted its position in shares of EMCOR Group by 1,055.5% during the fourth quarter. Schroder Investment Management Group now owns 12,734 shares of the construction company’s stock worth $5,823,000 after purchasing an additional 11,632 shares in the last quarter. Intrust Bank NA increased its stake in EMCOR Group by 18.3% during the 4th quarter. Intrust Bank NA now owns 931 shares of the construction company’s stock worth $423,000 after buying an additional 144 shares during the period. Allstate Corp acquired a new position in EMCOR Group in the 4th quarter worth $606,000. Maridea Wealth Management LLC purchased a new position in EMCOR Group in the 4th quarter valued at about $261,000. Finally, Horizon Investment Services LLC boosted its position in EMCOR Group by 0.8% in the 4th quarter. Horizon Investment Services LLC now owns 8,484 shares of the construction company’s stock valued at $3,851,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EME. Stifel Nicolaus cut their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group 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 transaction, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $371.22 on Monday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The firm’s 50-day simple moving average is $424.19 and its 200-day simple moving average is $451.81. The firm has a market cap of $16.88 billion, a PE ratio of 18.85 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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 firm 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%. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

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

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.