Prosperity Financial Group Inc. Raises Position in EMCOR Group, Inc. (NYSE:EME)

Prosperity Financial Group Inc. grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 52.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 915 shares of the construction company’s stock after purchasing an additional 313 shares during the period. Prosperity Financial Group Inc.’s holdings in EMCOR Group were worth $415,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EME. Koshinski Asset Management Inc. grew its position in EMCOR Group by 4.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after purchasing an additional 26 shares during the period. Cumberland Partners Ltd lifted its stake in EMCOR Group by 60.0% in the 3rd quarter. Cumberland Partners Ltd now owns 4,000 shares of the construction company’s stock worth $1,722,000 after purchasing an additional 1,500 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in EMCOR Group by 3,510.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after purchasing an additional 667 shares in the last quarter. Independent Advisor Alliance increased its holdings in shares of EMCOR Group by 25.0% during the 3rd quarter. Independent Advisor Alliance now owns 5,252 shares of the construction company’s stock worth $2,261,000 after buying an additional 1,049 shares during the last quarter. Finally, PFW Advisors LLC acquired a new stake in shares of EMCOR Group during the 4th quarter worth approximately $689,000. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Trading Up 3.4 %

Shares of EME opened at $373.47 on Wednesday. The firm’s 50-day moving average is $447.07 and its two-hundred day moving average is $450.14. EMCOR Group, Inc. has a twelve month low of $314.75 and a twelve month high of $545.30. The firm has a market capitalization of $16.98 billion, a P/E ratio of 18.97 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results 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 company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. 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. Shareholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group began 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. Northcoast Research assumed coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target for the company. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus dropped their price objective 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. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.