iA Global Asset Management Inc. Raises Stake in EMCOR Group, Inc. (NYSE:EME)

iA Global Asset Management Inc. increased its stake in EMCOR Group, Inc. (NYSE:EME) by 1,090.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,010 shares of the construction company’s stock after buying an additional 11,001 shares during the quarter. iA Global Asset Management Inc.’s holdings in EMCOR Group were worth $5,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after buying an additional 24,541 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after buying an additional 49,137 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after buying an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of EMCOR Group by 11.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after buying an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after buying an additional 88,074 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

EMCOR Group Stock Up 0.4 %

Shares of EME opened at $400.31 on Friday. The business’s 50-day moving average price is $435.92 and its 200-day moving average price is $449.51. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The stock has a market cap of $18.20 billion, a PE ratio of 20.33 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 for the quarter, beating the consensus estimate of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

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

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analyst Weigh In

Several research firms have commented on EME. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Northcoast Research began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective on the stock. Stifel Nicolaus dropped their price objective 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. Finally, The Goldman Sachs Group began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.