EMCOR Group, Inc. (NYSE:EME) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of EMCOR Group, Inc. (NYSE:EME) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,387 shares of the construction company’s stock after purchasing an additional 140 shares during the period. State of Alaska Department of Revenue’s holdings in EMCOR Group were worth $1,991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EME. Norges Bank acquired a new position in EMCOR Group during the 4th quarter valued at about $299,855,000. GAMMA Investing LLC boosted its stake in EMCOR Group by 49,775.5% during the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company’s stock valued at $138,266,000 after purchasing an additional 373,316 shares during the period. Invesco Ltd. boosted its stake in EMCOR Group by 28.0% during the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock valued at $598,465,000 after purchasing an additional 288,765 shares during the period. Ameriprise Financial Inc. boosted its stake in EMCOR Group by 94.2% during the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company’s stock valued at $139,349,000 after purchasing an additional 148,915 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of EMCOR Group by 35.2% in the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock worth $225,332,000 after acquiring an additional 129,186 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 947 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the sale, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Up 2.1%

EME stock opened at $495.31 on Tuesday. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The firm has a market cap of $22.17 billion, a PE ratio of 21.89 and a beta of 1.23. The firm has a 50 day simple moving average of $448.32 and a 200 day simple moving average of $438.08. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14.

EMCOR Group (NYSE:EME) last released its earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the business earned $4.17 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research 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 initiated a share buyback 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 reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio is presently 4.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of EMCOR Group in a research note on Friday, June 13th. They issued a “buy” rating and a $570.00 price target for the company. Stifel Nicolaus reduced their price target on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.60.

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.