Farther Finance Advisors LLC Reduces Holdings in EMCOR Group, Inc. (NYSE:EME)

Farther Finance Advisors LLC lessened its position in shares of EMCOR Group, Inc. (NYSE:EME) by 28.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,849 shares of the construction company’s stock after selling 732 shares during the quarter. Farther Finance Advisors LLC’s holdings in EMCOR Group were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP lifted its holdings in EMCOR Group by 62.4% during the 3rd quarter. Entropy Technologies LP now owns 1,252 shares of the construction company’s stock worth $539,000 after purchasing an additional 481 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in EMCOR Group by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 102,754 shares of the construction company’s stock worth $44,239,000 after purchasing an additional 1,467 shares in the last quarter. Aptus Capital Advisors LLC purchased a new stake in EMCOR Group during the 3rd quarter worth about $239,000. Victory Capital Management Inc. lifted its holdings in EMCOR Group by 91.4% during the 3rd quarter. Victory Capital Management Inc. now owns 124,704 shares of the construction company’s stock worth $53,689,000 after purchasing an additional 59,546 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in EMCOR Group during the 3rd quarter worth about $1,222,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 4.4 %

Shares of NYSE EME opened at $389.29 on Friday. The firm has a market capitalization of $17.70 billion, a P/E ratio of 19.77 and a beta of 1.14. The stock’s 50-day simple moving average is $442.26 and its two-hundred day simple moving average is $449.22. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME) last announced its 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. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates 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 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

EMCOR Group declared that its Board of Directors has approved 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 repurchase 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 shares are undervalued.

Analysts Set New Price Targets

EME has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Northcoast Research began coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.26% of the company’s stock.

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.