Maryland State Retirement & Pension System Sells 226 Shares of EMCOR Group, Inc. (NYSE:EME)

Maryland State Retirement & Pension System decreased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 8.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,430 shares of the construction company’s stock after selling 226 shares during the quarter. Maryland State Retirement & Pension System’s holdings in EMCOR Group were worth $1,103,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in EME. World Investment Advisors LLC bought a new stake in EMCOR Group in the third quarter valued at about $100,282,000. Nordea Investment Management AB increased its stake in EMCOR Group by 2,246.2% in the fourth 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 during the period. Swedbank AB increased its stake in EMCOR Group by 399.4% in the fourth 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 during the period. Raymond James Financial Inc. bought a new stake in EMCOR Group in the fourth quarter valued at about $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in EMCOR Group by 45.2% in the third 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 during the period. Institutional investors own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

EME has been the topic of a number of analyst reports. Stifel Nicolaus lowered 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 1.1 %

NYSE:EME opened at $395.11 on Friday. The firm has a market cap of $17.97 billion, a PE ratio of 20.07 and a beta of 1.14. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The company’s 50-day moving average price is $434.48 and its two-hundred day moving average price is $450.16.

EMCOR Group (NYSE:EME) last released 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 firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

EMCOR Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.25%. 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.