EMCOR Group, Inc. (NYSE:EME) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in EMCOR Group, Inc. (NYSE:EME) by 11.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 270,348 shares of the construction company’s stock after acquiring an additional 27,068 shares during the period. JPMorgan Chase & Co. owned approximately 0.59% of EMCOR Group worth $122,711,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in EME. SJS Investment Consulting Inc. lifted its position in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after buying an additional 25 shares during the period. Whittier Trust Co. boosted its stake in shares of EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock valued at $127,000 after buying an additional 80 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in EMCOR Group by 56.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 321 shares of the construction company’s stock worth $147,000 after acquiring an additional 116 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in EMCOR Group in the fourth quarter worth $152,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the topic of several recent analyst reports. Stifel Nicolaus lowered their target price 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. StockNews.com downgraded 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $497.25.

Insider Activity at EMCOR Group

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 stock was 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 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 legal filing with the SEC, which is accessible through this link. Insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

EME stock opened at $375.10 on Wednesday. The stock’s 50 day moving average price is $418.39 and its 200 day moving average price is $451.53. The firm has a market cap of $17.06 billion, a P/E ratio of 19.05 and a beta of 1.14. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

EMCOR Group (NYSE:EME) last issued 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. 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. On average, research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group declared that its board has approved a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is 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.