AQR Capital Management LLC Buys 58,483 Shares of EMCOR Group, Inc. (NYSE:EME)

AQR Capital Management LLC lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 489,825 shares of the construction company’s stock after acquiring an additional 58,483 shares during the quarter. AQR Capital Management LLC owned approximately 1.06% of EMCOR Group worth $222,332,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock worth $598,465,000 after purchasing an additional 288,765 shares during the period. Geode Capital Management LLC boosted its position in shares of EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock valued at $463,320,000 after acquiring an additional 25,502 shares during the last quarter. Norges Bank bought a new position in shares of EMCOR Group during the 4th quarter valued at approximately $299,855,000. Northern Trust Corp boosted its position in shares of EMCOR Group by 22.9% during the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company’s stock valued at $250,046,000 after acquiring an additional 102,738 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock valued at $225,332,000 after acquiring an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Up 0.1 %

EME stock opened at $410.54 on Tuesday. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of 20.85 and a beta of 1.08. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The business’s fifty day simple moving average is $385.65 and its two-hundred day simple moving average is $443.60.

EMCOR Group (NYSE:EME) last released its quarterly earnings data 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%. Research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EME has been the subject of a number of research reports. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $497.25.

Insider Activity at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by corporate insiders.

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.