Teacher Retirement System of Texas Buys 32,928 Shares of EMCOR Group, Inc. (NYSE:EME)

Teacher Retirement System of Texas boosted its stake in EMCOR Group, Inc. (NYSE:EME) by 41.1% in the fourth quarter, HoldingsChannel reports. The firm owned 113,142 shares of the construction company’s stock after acquiring an additional 32,928 shares during the period. Teacher Retirement System of Texas’ holdings in EMCOR Group were worth $51,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its position in shares of EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after acquiring an additional 104 shares during the period. SJS Investment Consulting Inc. grew its position in shares of EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after acquiring an additional 94 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of EMCOR Group during the 3rd quarter valued at $55,000. MassMutual Private Wealth & Trust FSB grew its position in shares of EMCOR Group by 14.4% during the 4th 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 period. Finally, First Horizon Advisors Inc. grew its position in shares of EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after acquiring an additional 27 shares during the period. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME opened at $400.31 on Friday. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The firm’s fifty day moving average is $435.92 and its 200 day moving average is $449.51. The stock has a market cap of $18.20 billion, a price-to-earnings ratio of 20.33 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced 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 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, equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

EME has been the subject of a number of recent research reports. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus lowered their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 target price on the stock. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

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.