Southeast Asset Advisors LLC Has $2.46 Million Position in EMCOR Group, Inc. (NYSE:EME)

Southeast Asset Advisors LLC grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 12.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,426 shares of the construction company’s stock after acquiring an additional 608 shares during the period. Southeast Asset Advisors LLC’s holdings in EMCOR Group were worth $2,463,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EME. State Street Corp grew its stake in EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock valued at $694,351,000 after purchasing an additional 24,541 shares in the last quarter. Invesco Ltd. grew its stake in shares of EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock valued at $598,465,000 after buying an additional 288,765 shares in the last quarter. Geode Capital Management LLC increased its holdings in EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock worth $463,320,000 after buying an additional 25,502 shares during the last quarter. Norges Bank bought a new position in EMCOR Group during the fourth quarter valued at approximately $299,855,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock valued at $196,500,000 after acquiring an additional 75,578 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction that occurred on 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 approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

EME has been the topic of several analyst reports. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their target price 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. One investment 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 3.6 %

NYSE:EME opened at $341.76 on Monday. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The company’s 50 day moving average is $408.04 and its 200-day moving average is $450.55. The firm has a market cap of $15.54 billion, a price-to-earnings 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 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 company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. Research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its board has authorized a stock buyback program on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.