Mount Lucas Management LP Sells 243 Shares of EMCOR Group, Inc. (NYSE:EME)

Mount Lucas Management LP trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 17.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,145 shares of the construction company’s stock after selling 243 shares during the quarter. Mount Lucas Management LP’s holdings in EMCOR Group were worth $520,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its position in EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares in the last quarter. SJS Investment Consulting Inc. grew its position in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in EMCOR Group in the 3rd quarter worth about $55,000. Rakuten Securities Inc. grew 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 worth $71,000 after purchasing an additional 161 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on EME. Stifel Nicolaus dropped 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. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Trading Up 0.3 %

Shares of EME stock opened at $376.10 on Monday. The stock has a market capitalization of $17.10 billion, a P/E ratio of 19.10 and a beta of 1.14. The firm’s 50 day moving average is $450.59 and its 200 day moving average is $450.29. EMCOR Group, Inc. has a 12 month low of $313.48 and a 12 month high of $545.29.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 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 net margin of 6.51% and a return on equity of 34.99%. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s payout ratio is currently 4.64%.

EMCOR Group announced that its Board of Directors has approved a share buyback 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 purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.