Engineers Gate Manager LP cut its stake in shares of Emcor Group Inc (NYSE:EME) by 34.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,879 shares of the construction company’s stock after selling 8,677 shares during the period. Engineers Gate Manager LP’s holdings in Emcor Group were worth $1,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Emcor Group in the third quarter valued at about $3,195,000. Train Babcock Advisors LLC raised its position in shares of Emcor Group by 4.4% in the third quarter. Train Babcock Advisors LLC now owns 43,680 shares of the construction company’s stock valued at $3,030,000 after buying an additional 1,835 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Emcor Group by 6.5% in the third quarter. Wells Fargo & Company MN now owns 1,068,029 shares of the construction company’s stock valued at $74,100,000 after buying an additional 65,047 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Emcor Group by 5.2% in the third quarter. Advisors Asset Management Inc. now owns 77,177 shares of the construction company’s stock valued at $5,355,000 after buying an additional 3,849 shares during the last quarter. Finally, State Street Corp raised its position in shares of Emcor Group by 2.5% in the second quarter. State Street Corp now owns 2,059,368 shares of the construction company’s stock valued at $134,642,000 after buying an additional 50,588 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Shares of Emcor Group Inc (NYSE:EME) opened at $75.91 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. Emcor Group Inc has a 1-year low of $59.76 and a 1-year high of $85.08. The stock has a market cap of $4,424.56, a PE ratio of 20.67, a P/E/G ratio of 1.24 and a beta of 0.96.

Emcor Group announced that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the construction company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Tuesday, January 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, January 12th. Emcor Group’s dividend payout ratio is currently 8.94%.

In related news, Director William P. Reid sold 4,647 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total value of $385,236.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

A number of equities research analysts have recently commented on EME shares. Zacks Investment Research cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 target price (up from $75.00) on shares of Emcor Group in a research report on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Emcor Group in a research report on Friday, November 17th. Finally, ValuEngine cut shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $88.50.

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About Emcor Group

EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.

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Institutional Ownership by Quarter for Emcor Group (NYSE:EME)

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