Harvest Fund Management Co. Ltd Acquires 947 Shares of EMCOR Group, Inc. (NYSE:EME)

Harvest Fund Management Co. Ltd increased its holdings in EMCOR Group, Inc. (NYSE:EME) by 31.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,953 shares of the construction company’s stock after buying an additional 947 shares during the period. Harvest Fund Management Co. Ltd’s holdings in EMCOR Group were worth $1,794,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EME. World Investment Advisors LLC bought a new stake in EMCOR Group during the 3rd quarter valued at approximately $100,282,000. Nordea Investment Management AB boosted its position in EMCOR Group by 2,246.2% during the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after acquiring an additional 136,501 shares in the last quarter. Swedbank AB boosted its position in EMCOR Group by 399.4% during the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after acquiring an additional 122,716 shares in the last quarter. Raymond James Financial Inc. bought a new stake in EMCOR Group during the 4th quarter valued at approximately $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after acquiring an additional 88,074 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

EME stock opened at $399.18 on Thursday. The firm has a 50 day moving average price of $437.41 and a 200-day moving average price of $449.86. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 20.27 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data 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 company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. As a group, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a $0.25 dividend. 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 0.25%. EMCOR Group’s payout ratio is currently 4.64%.

Insider Buying and Selling

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the sale, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EME. Northcoast Research began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Stifel Nicolaus lowered their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

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.