Russell Investments Group Ltd. Cuts Position in EMCOR Group, Inc. (NYSE:EME)

Russell Investments Group Ltd. lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 125,451 shares of the construction company’s stock after selling 1,464 shares during the period. Russell Investments Group Ltd.’s holdings in EMCOR Group were worth $56,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of EMCOR Group during the 4th quarter worth approximately $45,000. SJS Investment Consulting Inc. raised its holdings in EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock worth $51,000 after purchasing an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new stake in EMCOR Group in the fourth quarter valued at $126,000. Finally, Whittier Trust Co. increased its position in shares of EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company’s stock valued at $127,000 after buying an additional 80 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction dated 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 sale, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is currently owned by insiders.

EMCOR Group Trading Down 3.6 %

EMCOR Group stock opened at $341.76 on Monday. The stock has a 50-day moving average price of $408.04 and a 200 day moving average price of $450.55. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The stock has a market cap of $15.54 billion, a PE ratio of 17.36 and a beta of 1.08.

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

EMCOR Group announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and a consensus price target of $497.25.

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.