Legal & General Group Plc Lowers Holdings in EMCOR Group, Inc. (NYSE:EME)

Legal & General Group Plc lowered its holdings in EMCOR Group, Inc. (NYSE:EME) by 24.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 207,385 shares of the construction company’s stock after selling 65,983 shares during the period. Legal & General Group Plc’s holdings in EMCOR Group were worth $94,132,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of EMCOR Group during the 4th quarter worth about $45,000. SJS Investment Consulting Inc. boosted its stake in EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after acquiring an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in shares of EMCOR Group during the fourth quarter valued at about $126,000. Finally, Whittier Trust Co. raised its stake in shares of EMCOR Group by 40.2% in the 4th quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock valued at $127,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’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 directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Stock Performance

NYSE EME opened at $383.72 on Friday. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The firm has a 50 day simple moving average of $398.04 and a 200-day simple moving average of $447.28. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 19.49 and a beta of 1.08.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping the consensus estimate 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%. Equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 0.26%. The ex-dividend date is Thursday, April 17th. EMCOR Group’s dividend payout ratio is currently 4.64%.

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.