EMCOR Group, Inc. (NYSE:EME) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in EMCOR Group, Inc. (NYSE:EME) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,783 shares of the construction company’s stock after acquiring an additional 3,824 shares during the period. Pictet Asset Management Holding SA’s holdings in EMCOR Group were worth $28,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in EME. Bank of Montreal Can boosted its stake in EMCOR Group by 0.7% during the 3rd quarter. Bank of Montreal Can now owns 12,261 shares of the construction company’s stock worth $5,237,000 after purchasing an additional 82 shares during the last quarter. Fiduciary Trust Co acquired a new position in EMCOR Group during the third quarter worth about $235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in EMCOR Group by 11.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after acquiring an additional 34,226 shares during the last quarter. Walleye Capital LLC grew its stake in EMCOR Group by 140.0% during the 3rd quarter. Walleye Capital LLC now owns 4,407 shares of the construction company’s stock valued at $1,897,000 after acquiring an additional 2,571 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in EMCOR Group by 14.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,670 shares of the construction company’s stock valued at $2,441,000 after acquiring an additional 703 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on EME shares. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus lowered their price objective 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. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Price Performance

EMCOR Group stock opened at $371.22 on Monday. The firm has a 50 day simple moving average of $424.19 and a 200-day simple moving average of $451.81. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 18.85 and a beta of 1.14. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business 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 was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is currently 4.64%.

EMCOR Group announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’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 value of $462,587.50. Following the sale, the chief accounting officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

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.