American Century Companies Inc. Has $97.11 Million Stake in EMCOR Group, Inc. (NYSE:EME)

American Century Companies Inc. increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 81.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,947 shares of the construction company’s stock after purchasing an additional 96,108 shares during the quarter. American Century Companies Inc. owned about 0.47% of EMCOR Group worth $97,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after buying an additional 24,541 shares during the last quarter. Geode Capital Management LLC boosted its holdings in EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock valued at $428,313,000 after acquiring an additional 49,137 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after purchasing an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in EMCOR Group by 11.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after purchasing an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after purchasing an additional 88,074 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

EMCOR Group stock opened at $413.64 on Tuesday. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 21.01 and a beta of 1.14. The company’s 50 day simple moving average is $433.40 and its 200 day simple moving average is $451.24. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30.

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 the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its board has authorized a stock 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 buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Dividend Announcement

The firm 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. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. EMCOR Group’s dividend payout ratio (DPR) is currently 4.64%.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EME has been the subject of several analyst reports. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus dropped their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.