495 Shares in EMCOR Group, Inc. (NYSE:EME) Bought by Summit Financial LLC

Summit Financial LLC purchased a new stake in EMCOR Group, Inc. (NYSE:EME) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 495 shares of the construction company’s stock, valued at approximately $225,000.

Several other institutional investors have also added to or reduced their stakes in EME. Summit Securities Group LLC purchased a new stake in EMCOR Group during the 4th quarter worth approximately $45,000. SJS Investment Consulting Inc. grew its holdings 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 valued at $51,000 after buying an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of EMCOR Group by 14.4% in the 4th 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 during the period. Physician Wealth Advisors Inc. purchased a new position in EMCOR Group in the 4th quarter worth $126,000. Finally, Whittier Trust Co. lifted its position in EMCOR Group by 40.2% during the 4th quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock worth $127,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at EMCOR Group

In other 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 directly owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Stock Down 3.6 %

Shares of EME opened at $341.76 on Friday. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 17.36 and a beta of 1.14. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The stock’s 50-day moving average price is $408.04 and its 200-day moving average price is $449.97.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data 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 net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.