Prudential PLC Sells 211 Shares of EMCOR Group, Inc. (NYSE:EME)

Prudential PLC lowered its stake in EMCOR Group, Inc. (NYSE:EME) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,389 shares of the construction company’s stock after selling 211 shares during the period. Prudential PLC’s holdings in EMCOR Group were worth $2,900,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of EMCOR Group in the 4th quarter worth about $45,000. SJS Investment Consulting Inc. lifted its holdings in EMCOR Group by 494.7% in the fourth 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 boosted its position in EMCOR Group by 14.4% during 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 in the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of EMCOR Group during the 4th quarter worth approximately $126,000. Finally, Whittier Trust Co. raised its position in shares of EMCOR Group by 40.2% in 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 in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Down 3.6 %

EME stock opened at $341.76 on Friday. The business has a 50 day moving average of $408.04 and a 200 day moving average of $450.26. The firm has a market cap of $15.54 billion, a PE ratio of 17.36 and a beta of 1.14. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME) last issued 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. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction dated 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 sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EME. Stifel Nicolaus reduced 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 shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group 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.