Illinois Municipal Retirement Fund Increases Holdings in EMCOR Group, Inc. (NYSE:EME)

Illinois Municipal Retirement Fund raised its stake in EMCOR Group, Inc. (NYSE:EME) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 27,796 shares of the construction company’s stock after acquiring an additional 1,311 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in EMCOR Group were worth $5,988,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after purchasing an additional 62 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in EMCOR Group during the 3rd quarter worth $35,000. CVA Family Office LLC purchased a new stake in EMCOR Group during the 4th quarter worth $39,000. Cullen Frost Bankers Inc. acquired a new position in EMCOR Group in the 3rd quarter worth $42,000. Finally, Lindbrook Capital LLC boosted its position in EMCOR Group by 32.5% in the 4th quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock valued at $45,000 after buying an additional 51 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EME has been the topic of a number of analyst reports. DA Davidson reaffirmed a “buy” rating and set a $375.00 target price on shares of EMCOR Group in a research report on Friday, March 22nd. KeyCorp started coverage on EMCOR Group in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock.

Insiders Place Their Bets

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the transaction, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

EMCOR Group Price Performance

EME opened at $338.08 on Wednesday. EMCOR Group, Inc. has a 12-month low of $155.46 and a 12-month high of $369.53. The stock has a market capitalization of $15.91 billion, a PE ratio of 25.40 and a beta of 1.10. The firm’s fifty day moving average price is $323.00 and its 200 day moving average price is $253.31.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, February 28th. The construction company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.96. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the firm earned $2.63 EPS. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that EMCOR Group, Inc. will post 14.5 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.00 annualized dividend and a yield of 0.30%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. EMCOR Group’s dividend payout ratio is presently 7.51%.

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.