Plato Investment Management Ltd Buys 898 Shares of EMCOR Group, Inc. (NYSE:EME)

Plato Investment Management Ltd lifted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 31.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,739 shares of the construction company’s stock after acquiring an additional 898 shares during the period. Plato Investment Management Ltd’s holdings in EMCOR Group were worth $1,703,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EME. True Wealth Design LLC grew its stake in shares of EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after acquiring an additional 104 shares during the last quarter. SJS Investment Consulting Inc. grew its stake in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after acquiring an additional 94 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of EMCOR Group during the third quarter worth about $55,000. Harbor Capital Advisors Inc. purchased a new stake in shares of EMCOR Group during the third quarter worth about $62,000. Finally, Rakuten Securities Inc. grew its stake in shares of EMCOR Group by 4,025.0% during the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the topic of a number of research analyst reports. Northcoast Research initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. Stifel Nicolaus decreased their target price on 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 downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Stock Down 3.2 %

EMCOR Group stock opened at $395.73 on Tuesday. EMCOR Group, Inc. has a 52 week low of $313.48 and a 52 week high of $545.29. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 20.10 and a beta of 1.11. The stock has a 50-day moving average price of $457.03 and a 200 day moving average price of $449.90.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

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

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.