Straightline Group LLC Takes $254,000 Position in EMCOR Group, Inc. (NYSE:EME)

Straightline Group LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 560 shares of the construction company’s stock, valued at approximately $254,000.

Several other large investors have also recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. lifted its stake in shares of EMCOR Group by 4.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after acquiring an additional 26 shares during the period. Wolff Wiese Magana LLC lifted its position in EMCOR Group by 3,510.5% in the fourth quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after purchasing an additional 667 shares during the period. PFW Advisors LLC acquired a new stake in EMCOR Group in the fourth quarter worth approximately $689,000. Central Pacific Bank Trust Division boosted its stake in EMCOR Group by 382.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 1,833 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,453 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of EMCOR Group by 108.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,389 shares of the construction company’s stock valued at $7,439,000 after purchasing an additional 8,545 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price target 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

Insider Buying and Selling 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 directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $349.80 on Tuesday. The company has a market capitalization of $15.91 billion, a PE ratio of 17.77 and a beta of 1.08. The stock has a fifty day moving average of $406.44 and a 200-day moving average of $449.98. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating 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 return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal 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 repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.