Franklin Resources Inc. Lowers Position in EMCOR Group, Inc. (NYSE:EME)

Franklin Resources Inc. trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,880 shares of the construction company’s stock after selling 5,928 shares during the quarter. Franklin Resources Inc. owned approximately 0.14% of EMCOR Group worth $28,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in EMCOR Group in the fourth quarter worth $45,000. SJS Investment Consulting Inc. grew its position in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake 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 worth $90,000 after acquiring an additional 25 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new position in EMCOR Group during the 4th quarter valued at about $126,000. Finally, Whittier Trust Co. boosted its stake in EMCOR Group by 40.2% during the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock worth $127,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were 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 in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $341.76 on Friday. The firm’s 50 day moving average price is $408.04 and its 200-day moving average price is $450.26. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The company has a market cap of $15.54 billion, a PE ratio of 17.36 and a beta of 1.14.

EMCOR Group (NYSE:EME) last released its quarterly earnings data 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 business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.