Concentric Capital Strategies LP Purchases 1,267 Shares of EMCOR Group, Inc. (NYSE:EME)

Concentric Capital Strategies LP raised its position in shares of EMCOR Group, Inc. (NYSE:EME) by 27.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,940 shares of the construction company’s stock after acquiring an additional 1,267 shares during the period. Concentric Capital Strategies LP’s holdings in EMCOR Group were worth $2,696,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in EMCOR Group during the 4th quarter valued at $299,855,000. Invesco Ltd. boosted its stake in EMCOR Group by 28.0% in the fourth 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 in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of EMCOR Group by 94.2% during the fourth quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company’s stock worth $139,349,000 after purchasing an additional 148,915 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of EMCOR Group by 2,246.2% during the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after purchasing an additional 136,501 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock valued at $225,332,000 after buying an additional 129,186 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Anthony Guzzi sold 7,000 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the transaction, the chief executive officer now directly owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now directly owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This trade represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,197 shares of company stock valued at $3,905,748. Company insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.50.

EMCOR Group Stock Up 0.4 %

Shares of EME opened at $434.61 on Thursday. The stock’s fifty day simple moving average is $387.86 and its 200-day simple moving average is $442.36. The firm has a market capitalization of $19.45 billion, a PE ratio of 22.07 and a beta of 1.18. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.57 by $0.84. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.17 EPS. Analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has authorized a stock repurchase program on Wednesday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s payout ratio is presently 4.42%.

EMCOR Group Company 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.