Great Lakes Advisors LLC Buys Shares of 446 EMCOR Group, Inc. (NYSE:EME)

Great Lakes Advisors LLC bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 446 shares of the construction company’s stock, valued at approximately $202,000.

A number of other hedge funds have also made changes to their positions in EME. World Investment Advisors LLC acquired a new position in shares of EMCOR Group during the third quarter valued at approximately $100,282,000. Nordea Investment Management AB raised its holdings in shares of EMCOR Group by 2,246.2% during the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after acquiring an additional 136,501 shares during the last quarter. Swedbank AB raised its holdings in shares of EMCOR Group by 399.4% during the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after acquiring an additional 122,716 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of EMCOR Group in the fourth quarter valued at approximately $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after purchasing an additional 88,074 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

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

EMCOR Group Stock Performance

Shares of EMCOR Group stock opened at $394.91 on Tuesday. The firm has a market capitalization of $17.96 billion, a price-to-earnings ratio of 20.06 and a beta of 1.14. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The stock has a 50 day moving average of $440.59 and a 200 day moving average of $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 for the quarter, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. Analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has approved a stock repurchase program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. EMCOR Group’s dividend payout ratio is currently 4.64%.

EMCOR Group Company 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.