Victory Capital Management Inc. Trims Stake in EMCOR Group, Inc. (NYSE:EME)

Victory Capital Management Inc. cut its holdings in EMCOR Group, Inc. (NYSE:EME) by 27.2% during the 4th quarter, Holdings Channel reports. The fund owned 90,799 shares of the construction company’s stock after selling 33,905 shares during the period. Victory Capital Management Inc.’s holdings in EMCOR Group were worth $41,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC raised its holdings in EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock worth $46,000 after purchasing an additional 104 shares during the period. SJS Investment Consulting Inc. increased its position in EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after buying an additional 94 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in EMCOR Group in the third quarter worth about $55,000. Harbor Capital Advisors Inc. bought a new position in shares of EMCOR Group in the third quarter worth about $62,000. Finally, Rakuten Securities Inc. lifted its position in shares of EMCOR Group by 4,025.0% during the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock valued at $71,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

EMCOR Group stock opened at $376.10 on Friday. EMCOR Group, Inc. has a 1 year low of $313.48 and a 1 year high of $545.29. The firm’s 50 day moving average price is $450.59 and its 200-day moving average price is $449.75. The stock has a market cap of $17.10 billion, a P/E ratio of 19.10 and a beta of 1.14.

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

EMCOR Group Announces Dividend

The company also recently declared 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. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s dividend payout ratio is presently 4.64%.

EMCOR Group declared that its board has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

EME has been the subject of several analyst reports. Northcoast Research started coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus reduced their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group initiated coverage on EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus 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.