Sierra Summit Advisors LLC Invests $5.55 Million in EMCOR Group, Inc. (NYSE:EME)

Sierra Summit Advisors LLC acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,229 shares of the construction company’s stock, valued at approximately $5,551,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Koshinski Asset Management Inc. raised its holdings in EMCOR Group by 4.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after acquiring an additional 26 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in shares of EMCOR Group by 3,510.5% during the fourth quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock valued at $311,000 after buying an additional 667 shares during the last quarter. PFW Advisors LLC bought a new stake in EMCOR Group in the 4th quarter worth about $689,000. Central Pacific Bank Trust Division increased its holdings in EMCOR Group by 382.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,833 shares of the construction company’s stock worth $832,000 after buying an additional 1,453 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in EMCOR Group by 108.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,389 shares of the construction company’s stock worth $7,439,000 after buying an additional 8,545 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EME. Stifel Nicolaus dropped their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. StockNews.com cut 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the 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 directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Down 3.6 %

EMCOR Group stock opened at $341.76 on Monday. The business has a 50-day simple moving average of $408.04 and a two-hundred day simple moving average of $450.55. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The company has a market cap of $15.54 billion, a P/E ratio of 17.36 and a beta of 1.08.

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

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

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.