Securian Asset Management Inc. Reduces Stake in EMCOR Group, Inc. (NYSE:EME)

by · The Markets Daily

Securian Asset Management Inc. trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,478 shares of the construction company’s stock after selling 150 shares during the quarter. Securian Asset Management Inc.’s holdings in EMCOR Group were worth $1,579,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC grew its holdings in EMCOR Group by 2.5% in the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock valued at $353,000 after purchasing an additional 19 shares during the period. Adirondack Trust Co. boosted its holdings in EMCOR Group by 5.0% in the fourth quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock valued at $191,000 after acquiring an additional 20 shares during the last quarter. Exchange Traded Concepts LLC grew its position in EMCOR Group by 1.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock valued at $521,000 after acquiring an additional 21 shares during the period. Caprock Group LLC lifted its stake in shares of EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after purchasing an additional 22 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Stock Performance

NYSE EME opened at $372.98 on Friday. The stock has a market capitalization of $16.96 billion, a P/E ratio of 18.94 and a beta of 1.14. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The business’s fifty day moving average is $443.95 and its two-hundred day moving average is $449.14.

EMCOR Group (NYSE:EME – Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share 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 the consensus estimate of $3.81 billion. On average, research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective for the company. Stifel Nicolaus reduced their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average price target of $497.25.

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About EMCOR Group

(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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