Skandinaviska Enskilda Banken AB publ Has $53.66 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Skandinaviska Enskilda Banken AB publ lifted its stake in EMCOR Group, Inc. (NYSE:EME) by 79.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,359 shares of the construction company’s stock after purchasing an additional 52,014 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.26% of EMCOR Group worth $53,660,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EME. True Wealth Design LLC increased its stake 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 buying an additional 104 shares during the period. SJS Investment Consulting Inc. boosted its holdings in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after acquiring an additional 94 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in EMCOR Group in the third quarter worth about $55,000. Rakuten Securities Inc. raised its holdings in EMCOR Group by 4,025.0% during 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position 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 purchasing an additional 25 shares during the period. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EME shares. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Northcoast Research assumed coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus cut their price target 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. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $382.55 on Thursday. The company has a 50 day moving average price of $445.64 and a two-hundred day moving average price of $449.67. The company has a market capitalization of $17.40 billion, a PE ratio of 19.43 and a beta of 1.14. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.81 billion. On average, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

EMCOR Group Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s payout ratio is 4.64%.

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.