EMCOR Group, Inc. (NYSE:EME) Shares Sold by Diametric Capital LP

Diametric Capital LP decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 53.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,185 shares of the construction company’s stock after selling 1,346 shares during the quarter. Diametric Capital LP’s holdings in EMCOR Group were worth $538,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EME. Norges Bank purchased a new stake in EMCOR Group during the fourth quarter worth $299,855,000. World Investment Advisors LLC purchased a new stake in shares of EMCOR Group during the 3rd quarter worth about $100,282,000. Nordea Investment Management AB grew its position in shares of 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 during the period. Swedbank AB raised its holdings in EMCOR Group by 399.4% in the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock worth $69,648,000 after purchasing an additional 122,716 shares during the period. Finally, American Century Companies Inc. raised its holdings in EMCOR Group by 81.6% in the 4th quarter. American Century Companies Inc. now owns 213,947 shares of the construction company’s stock worth $97,111,000 after purchasing an additional 96,108 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

NYSE EME opened at $369.33 on Tuesday. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The company has a market cap of $16.79 billion, a PE ratio of 18.76 and a beta of 1.14. The stock’s 50 day simple moving average is $421.43 and its 200-day simple moving average is $451.68.

EMCOR Group (NYSE:EME) last announced 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. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has authorized 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 buy up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on 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 owns 27,642 shares in the company, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EME. Stifel Nicolaus cut their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group 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.