52,745 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME) in the fourth quarter, HoldingsChannel reports. The fund acquired 52,745 shares of the construction company’s stock, valued at approximately $23,941,000.

Other hedge funds also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. lifted its stake in EMCOR Group by 4.1% in the fourth 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. Cumberland Partners Ltd lifted its stake in EMCOR Group by 60.0% in the third quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock worth $1,722,000 after acquiring an additional 1,500 shares during the period. Wolff Wiese Magana LLC lifted its stake 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 acquiring an additional 667 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in EMCOR Group by 173.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 54,521 shares of the construction company’s stock worth $23,473,000 after acquiring an additional 34,553 shares during the period. Finally, Independent Advisor Alliance lifted its stake in EMCOR Group by 25.0% in the third quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock worth $2,261,000 after acquiring an additional 1,049 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 1.4 %

EME opened at $408.33 on Friday. EMCOR Group, Inc. has a 52-week low of $305.89 and a 52-week high of $545.29. The company has a market cap of $18.78 billion, a P/E ratio of 20.74 and a beta of 1.11. The firm’s 50-day moving average price is $459.53 and its 200-day moving average price is $448.17.

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

EMCOR Group declared that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.24%. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Analyst Upgrades and Downgrades

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

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.