EMCOR Group, Inc. (NYSE:EME) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its position in EMCOR Group, Inc. (NYSE:EME) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,553 shares of the construction company’s stock after acquiring an additional 88 shares during the quarter. Arizona State Retirement System’s holdings in EMCOR Group were worth $6,152,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in shares of EMCOR Group by 6.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,844 shares of the construction company’s stock valued at $3,377,000 after buying an additional 508 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of EMCOR Group during the 3rd quarter valued at approximately $62,000. Van ECK Associates Corp boosted its stake in shares of EMCOR Group by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,401 shares of the construction company’s stock valued at $4,189,000 after buying an additional 932 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of EMCOR Group by 63.4% during the 3rd quarter. QRG Capital Management Inc. now owns 2,947 shares of the construction company’s stock valued at $1,269,000 after buying an additional 1,144 shares during the last quarter. Finally, Forte Capital LLC ADV boosted its stake in shares of EMCOR Group by 23.3% during the 3rd quarter. Forte Capital LLC ADV now owns 1,095 shares of the construction company’s stock valued at $471,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of EME opened at $376.10 on Friday. The business’s fifty day moving average price is $450.59 and its 200 day moving average price is $449.18. EMCOR Group, Inc. has a 12-month low of $313.48 and a 12-month high of $545.29. The stock has a market capitalization of $17.10 billion, a PE ratio of 19.10 and a beta of 1.14.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating 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 return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s payout ratio is 4.64%.

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

Wall Street Analysts Forecast Growth

EME has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. Northcoast Research initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective on the stock. Finally, StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Company 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.