Altshuler Shaham Ltd Has $108,000 Stake in EMCOR Group, Inc. (NYSE:EME)

Altshuler Shaham Ltd raised its position in EMCOR Group, Inc. (NYSE:EME) by 2,063.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238 shares of the construction company’s stock after acquiring an additional 227 shares during the quarter. Altshuler Shaham Ltd’s holdings in EMCOR Group were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock valued at $598,465,000 after purchasing an additional 288,765 shares during the period. Geode Capital Management LLC raised its stake in EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock valued at $463,320,000 after buying an additional 25,502 shares during the period. Norges Bank bought a new stake in EMCOR Group in the fourth quarter valued at approximately $299,855,000. Allspring Global Investments Holdings LLC lifted its position in shares of EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after buying an additional 75,578 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of EMCOR Group by 11.1% during the 4th quarter. JPMorgan Chase & Co. now owns 270,348 shares of the construction company’s stock worth $122,711,000 after acquiring an additional 27,068 shares during the period. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and an average price target of $497.25.

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the 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 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 legal filing with the SEC, which is accessible through this link. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Down 1.9 %

NYSE EME opened at $382.79 on Thursday. The firm has a 50-day moving average price of $393.53 and a two-hundred day moving average price of $446.28. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The company has a market capitalization of $17.41 billion, a P/E ratio of 19.44 and a beta of 1.08.

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

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group announced that its Board of Directors has authorized a share buyback 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 buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.