EMCOR Group, Inc. (NYSE:EME) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 31.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 250 shares of the construction company’s stock after selling 114 shares during the period. Cullen Frost Bankers Inc.’s holdings in EMCOR Group were worth $113,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its holdings in shares of EMCOR Group by 3,466.7% in the 3rd 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 last quarter. SJS Investment Consulting Inc. boosted its stake in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of EMCOR Group during the third quarter worth about $55,000. Rakuten Securities Inc. increased its position in EMCOR Group by 4,025.0% in the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock valued at $71,000 after acquiring an additional 161 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in 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 last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on EME shares. Stifel Nicolaus lowered their target price on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research 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 objective for the company. Finally, The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Price Performance

EMCOR Group stock opened at $376.10 on Monday. The stock’s 50 day moving average price is $450.59 and its 200 day moving average price is $450.29. The company has a market cap of $17.10 billion, a PE ratio of 19.10 and a beta of 1.14. EMCOR Group, Inc. has a 1-year low of $313.48 and a 1-year high of $545.29.

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

EMCOR Group Announces Dividend

The business also recently declared 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 0.27%. EMCOR Group’s payout ratio is 4.64%.

EMCOR Group declared that its board has authorized a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.