Nomura Asset Management Co. Ltd. Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Nomura Asset Management Co. Ltd. decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,348 shares of the construction company’s stock after selling 69 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in EMCOR Group were worth $9,236,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC grew its stake in 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 period. Adirondack Trust Co. grew its position in shares of EMCOR Group by 5.0% in the 4th quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after buying an additional 20 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of EMCOR Group by 1.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock worth $521,000 after acquiring an additional 21 shares in the last quarter. Petra Financial Advisors Inc. lifted its position in EMCOR Group by 1.4% during the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock valued at $789,000 after acquiring an additional 24 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

EME has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price 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. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insider Activity

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

EMCOR Group Stock Down 0.4 %

NYSE:EME opened at $369.33 on Tuesday. The stock has a market cap of $16.79 billion, a price-to-earnings ratio of 18.76 and a beta of 1.14. The company’s 50 day moving average price is $421.43 and its 200-day moving average price is $451.68. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

EMCOR Group (NYSE:EME) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, sell-side analysts anticipate 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. Shareholders 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 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is currently 4.64%.

EMCOR Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About EMCOR Group

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.