Huntington National Bank Buys 68 Shares of EMCOR Group, Inc. (NYSE:EME)

Huntington National Bank raised its stake in EMCOR Group, Inc. (NYSE:EME) by 21.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 385 shares of the construction company’s stock after purchasing an additional 68 shares during the quarter. Huntington National Bank’s holdings in EMCOR Group were worth $175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Summit Securities Group LLC bought a new position in EMCOR Group in the fourth quarter valued at $45,000. SJS Investment Consulting Inc. boosted its holdings in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after purchasing an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of EMCOR Group during the 4th quarter valued at about $126,000. Finally, Whittier Trust Co. lifted its position in EMCOR Group by 40.2% in the 4th quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock worth $127,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus reduced their target price 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. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Performance

Shares of EME stock opened at $341.76 on Friday. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The firm has a market cap of $15.54 billion, a P/E ratio of 17.36 and a beta of 1.14. The business’s 50 day moving average price is $408.04 and its 200-day moving average price is $450.26.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data 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 business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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