EMCOR Group, Inc. $EME Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd decreased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,930 shares of the construction company’s stock after selling 17,140 shares during the period. AustralianSuper Pty Ltd owned 0.19% of EMCOR Group worth $55,815,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Quent Capital LLC purchased a new position in shares of EMCOR Group in the 3rd quarter worth $29,000. Orion Capital Management LLC acquired a new stake in EMCOR Group during the third quarter worth about $31,000. Tobam raised its holdings in shares of EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group in the 2nd quarter valued at about $43,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of EMCOR Group by 37.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock worth $59,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Stifel Nicolaus lifted their target price on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $495.00 to $676.00 in a research report on Tuesday, October 7th. Robert W. Baird set a $713.00 price objective on EMCOR Group in a research report on Friday, October 31st. Finally, DA Davidson boosted their price objective on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and an average target price of $698.83.

Insider Transactions at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,325 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total value of $897,316.50. Following the transaction, the director directly owned 6,140 shares of the company’s stock, valued at $4,158,130.80. This represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.26% of the stock is owned by corporate insiders.

EMCOR Group Price Performance

EMCOR Group stock opened at $727.02 on Thursday. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64. The company has a market capitalization of $32.55 billion, a price-to-earnings ratio of 29.23 and a beta of 1.17. The firm’s fifty day moving average price is $639.76 and its 200 day moving average price is $638.29.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, meeting the consensus estimate of $6.57. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the firm earned $5.80 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. Analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th will be paid a dividend of $0.40 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. EMCOR Group’s payout ratio is 6.43%.

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

EMCOR Group Company Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.