Bank of Montreal Can Grows Stake in EMCOR Group, Inc. (NYSE:EME)

Bank of Montreal Can raised its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 44.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,681 shares of the construction company’s stock after purchasing an additional 5,420 shares during the period. Bank of Montreal Can’s holdings in EMCOR Group were worth $8,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Polymer Capital Management US LLC bought a new stake in EMCOR Group in the fourth quarter worth $230,000. Sierra Summit Advisors LLC bought a new stake in shares of EMCOR Group in the 4th quarter worth about $5,551,000. Benchmark Investment Advisors LLC bought a new position in EMCOR Group during the 4th quarter valued at about $2,306,000. Federated Hermes Inc. raised its position in EMCOR Group by 8.9% in the 4th quarter. Federated Hermes Inc. now owns 164,164 shares of the construction company’s stock worth $74,514,000 after purchasing an additional 13,398 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in EMCOR Group by 3.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,220 shares of the construction company’s stock worth $554,000 after purchasing an additional 36 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $383.72 on Monday. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 19.49 and a beta of 1.08. The stock has a 50 day moving average price of $398.04 and a 200 day moving average price of $447.40.

EMCOR Group (NYSE:EME) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. The business had revenue of $3.77 billion during 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%. Analysts forecast 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 will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s dividend payout ratio is currently 4.64%.

EMCOR Group declared that its Board of Directors has initiated a share 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 reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EME. Stifel Nicolaus reduced their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insider Buying and Selling at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the sale, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.