Summit Global Investments Has $4.11 Million Holdings in EMCOR Group, Inc. (NYSE:EME)

Summit Global Investments trimmed its stake in EMCOR Group, Inc. (NYSE:EME) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,048 shares of the construction company’s stock after selling 1,773 shares during the period. Summit Global Investments’ holdings in EMCOR Group were worth $4,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EME. True Wealth Design LLC increased its holdings in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after purchasing an additional 104 shares during the period. SJS Investment Consulting Inc. increased its holdings in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares during the period. Prospera Private Wealth LLC acquired a new stake in EMCOR Group in the third quarter valued at $55,000. MassMutual Private Wealth & Trust FSB increased its holdings in EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after purchasing an additional 25 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in EMCOR Group by 13.0% in the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after purchasing an additional 27 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction dated 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 approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EME. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Northcoast Research began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Finally, Stifel Nicolaus cut 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 equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Price Performance

EME stock opened at $395.11 on Friday. The stock has a market capitalization of $17.97 billion, a PE ratio of 20.07 and a beta of 1.14. The company’s 50-day moving average is $434.48 and its 200-day moving average is $449.53. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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.