Gulf International Bank UK Ltd Cuts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Gulf International Bank UK Ltd lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,597 shares of the construction company’s stock after selling 38 shares during the quarter. Gulf International Bank UK Ltd’s holdings in EMCOR Group were worth $1,632,000 at the end of the most recent quarter.

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

EMCOR Group Price Performance

Shares of EME stock opened at $408.33 on Friday. The firm has a market cap of $18.78 billion, a P/E ratio of 20.74 and a beta of 1.11. EMCOR Group, Inc. has a 1-year low of $305.89 and a 1-year high of $545.29. The firm has a fifty day moving average of $458.38 and a two-hundred day moving average of $448.53.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping 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 company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is presently 5.08%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EME. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 price target 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 for the company in a report on Thursday. Finally, StockNews.com lowered 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.