EMCOR Group, Inc. (NYSE:EME) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lowered its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,587 shares of the construction company’s stock after selling 719 shares during the period. Steward Partners Investment Advisory LLC’s holdings in EMCOR Group were worth $1,628,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. World Investment Advisors LLC acquired a new stake in shares of EMCOR Group in the 3rd quarter worth $100,282,000. Nordea Investment Management AB lifted its stake in shares of EMCOR Group by 2,246.2% in the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after acquiring an additional 136,501 shares during the period. Swedbank AB lifted its stake in shares of 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 acquiring an additional 122,716 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after acquiring an additional 88,074 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after acquiring an additional 75,578 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 target price for the company. Northcoast Research started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus cut their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com downgraded 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Up 0.3 %

Shares of EME opened at $376.10 on Friday. The company has a 50-day simple moving average of $450.59 and a 200-day simple moving average of $449.75. The company has a market capitalization of $17.10 billion, a PE ratio of 19.10 and a beta of 1.14. EMCOR Group, Inc. has a 52-week low of $313.48 and a 52-week high of $545.29.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. On average, research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. 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 declared that its board has authorized a stock buyback plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.