KLP Kapitalforvaltning AS Purchases Shares of 48,600 EMCOR Group, Inc. (NYSE:EME)

KLP Kapitalforvaltning AS purchased a new stake in EMCOR Group, Inc. (NYSE:EME) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 48,600 shares of the construction company’s stock, valued at approximately $22,060,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its position in EMCOR Group by 0.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 9,571 shares of the construction company’s stock valued at $4,344,000 after buying an additional 82 shares in the last quarter. American Century Companies Inc. boosted its position in EMCOR Group by 81.6% in the fourth quarter. American Century Companies Inc. now owns 213,947 shares of the construction company’s stock valued at $97,111,000 after buying an additional 96,108 shares in the last quarter. Quantbot Technologies LP acquired a new position in EMCOR Group in the fourth quarter valued at about $1,192,000. Wayfinding Financial LLC acquired a new position in EMCOR Group in the fourth quarter valued at about $251,000. Finally, Oxford Financial Group LTD. LLC bought a new position in shares of EMCOR Group in the fourth quarter worth about $1,094,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

EMCOR Group Price Performance

EME opened at $395.11 on Friday. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 20.07 and a beta of 1.14. The firm has a 50 day simple moving average of $434.48 and a 200 day simple moving average of $450.16. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share 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%. As a group, analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

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

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.26% of the stock is currently owned by insiders.

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.