Vestcor Inc Purchases 994 Shares of EMCOR Group, Inc. (NYSE:EME)

by · The Markets Daily

Vestcor Inc lifted its position in EMCOR Group, Inc. (NYSE:EME – Free Report) by 27.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,668 shares of the construction company’s stock after acquiring an additional 994 shares during the quarter. Vestcor Inc’s holdings in EMCOR Group were worth $2,119,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EME. Entropy Technologies LP lifted its stake in EMCOR Group by 62.4% in the third quarter. Entropy Technologies LP now owns 1,252 shares of the construction company’s stock worth $539,000 after purchasing an additional 481 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in EMCOR Group by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 102,754 shares of the construction company’s stock worth $44,239,000 after buying an additional 1,467 shares during the period. Aptus Capital Advisors LLC bought a new position in EMCOR Group in the 3rd quarter worth about $239,000. Victory Capital Management Inc. increased its position in shares of EMCOR Group by 91.4% during the third quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company’s stock worth $53,689,000 after acquiring an additional 59,546 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in shares of EMCOR Group during the third quarter valued at approximately $1,222,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EME has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective 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. Northcoast Research began coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

Get Our Latest Report on EME

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were 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 of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is owned by insiders.

EMCOR Group Trading Up 4.4 %

Shares of NYSE:EME opened at $389.29 on Friday. The company has a market capitalization of $17.70 billion, a PE ratio of 19.77 and a beta of 1.14. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The business’s fifty day simple moving average is $442.26 and its 200-day simple moving average is $449.22.

EMCOR Group (NYSE:EME – Get Free Report) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s payout ratio is 4.64%.

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 outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

EMCOR Group Company Profile

(Free Report)

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.

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