Great Lakes Advisors LLC Takes Position in EMCOR Group, Inc. (NYSE:EME)

Great Lakes Advisors LLC acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 446 shares of the construction company’s stock, valued at approximately $202,000.

Several other hedge funds have also modified their holdings of the stock. Perigon Wealth Management LLC raised its stake in shares of EMCOR Group by 2.5% in the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock valued at $353,000 after acquiring an additional 19 shares in the last quarter. Adirondack Trust Co. raised its stake in shares of EMCOR Group by 5.0% in the fourth quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock valued at $191,000 after acquiring an additional 20 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of EMCOR Group by 1.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock valued at $521,000 after acquiring an additional 21 shares in the last quarter. Caprock Group LLC raised its stake in shares of EMCOR Group by 0.4% in the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after acquiring an additional 22 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after acquiring an additional 25 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Northcoast Research assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target on the stock. 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 cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group assumed coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target on the stock. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Performance

EME opened at $394.91 on Tuesday. The business’s 50-day simple moving average is $440.59 and its 200-day simple moving average is $450.26. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The stock has a market capitalization of $17.96 billion, a P/E ratio of 20.06 and a beta of 1.14.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping 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 business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. On average, equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its board has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Announces Dividend

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

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.