Retirement Systems of Alabama Grows Stake in EMCOR Group, Inc. (NYSE:EME)

Retirement Systems of Alabama increased its stake in EMCOR Group, Inc. (NYSE:EME) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,568 shares of the construction company’s stock after acquiring an additional 67 shares during the period. Retirement Systems of Alabama owned approximately 0.15% of EMCOR Group worth $15,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in EMCOR Group by 83.8% in the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares in the last quarter. Arlington Trust Co LLC bought a new stake in EMCOR Group in the third quarter worth about $35,000. CVA Family Office LLC bought a new stake in EMCOR Group in the fourth quarter worth about $39,000. Cullen Frost Bankers Inc. bought a new stake in EMCOR Group in the third quarter worth about $42,000. Finally, Alaska Permanent Fund Corp bought a new stake in EMCOR Group in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the subject of several analyst reports. DA Davidson reissued a “buy” rating and issued a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp began coverage on shares of EMCOR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company.

EMCOR Group Stock Performance

EMCOR Group stock opened at $357.15 on Wednesday. The company has a 50 day moving average price of $333.10 and a 200-day moving average price of $258.45. EMCOR Group, Inc. has a fifty-two week low of $161.49 and a fifty-two week high of $369.53. The company has a market capitalization of $16.79 billion, a PE ratio of 23.56 and a beta of 1.10.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $1.25. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. The company had revenue of $3.43 billion during the quarter. On average, analysts forecast that EMCOR Group, Inc. will post 16 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a $0.25 dividend. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date was Monday, April 15th. EMCOR Group’s payout ratio is currently 6.60%.

Insider Activity

In other news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

EMCOR Group 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.