NEOS Investment Management LLC Takes $463,000 Position in EMCOR Group, Inc. (NYSE:EME)

NEOS Investment Management LLC purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,020 shares of the construction company’s stock, valued at approximately $463,000.

Several other institutional investors also recently modified their holdings of the stock. Perigon Wealth Management LLC grew its holdings in shares of EMCOR Group by 2.5% during the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock worth $353,000 after purchasing an additional 19 shares during the last quarter. Adirondack Trust Co. grew its position in shares of EMCOR Group by 5.0% during the 4th quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after buying an additional 20 shares during the period. Exchange Traded Concepts LLC increased its stake in 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 purchasing an additional 21 shares in the last quarter. Petra Financial Advisors Inc. increased its position in EMCOR Group by 1.4% in the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock valued at $789,000 after buying an additional 24 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of EMCOR Group by 14.4% during 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EME. Stifel Nicolaus decreased 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. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 2.1 %

NYSE EME opened at $371.22 on Monday. The company’s 50 day moving average is $424.19 and its 200-day moving average is $451.81. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The firm has a market cap of $16.88 billion, a P/E ratio of 18.85 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share 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 firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

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

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

Insider Activity at EMCOR Group

In other EMCOR Group 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 in the company, 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 document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by insiders.

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.