EMCOR Group, Inc. (NYSE:EME) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 324,419 shares of the construction company’s stock after purchasing an additional 17,585 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in EMCOR Group were worth $147,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its position in EMCOR Group by 280.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 10,230 shares of the construction company’s stock worth $4,643,000 after acquiring an additional 7,543 shares during the period. Janus Henderson Group PLC lifted its position in EMCOR Group by 13.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,819 shares of the construction company’s stock worth $1,734,000 after acquiring an additional 456 shares during the period. Guardian Wealth Advisors LLC NC acquired a new position in EMCOR Group in the 4th quarter worth approximately $202,000. Gotham Asset Management LLC increased its holdings in EMCOR Group by 40.9% in the 4th quarter. Gotham Asset Management LLC now owns 35,151 shares of the construction company’s stock worth $15,955,000 after buying an additional 10,206 shares during the period. Finally, Focus Partners Wealth increased its holdings in EMCOR Group by 351.8% in the 4th quarter. Focus Partners Wealth now owns 6,827 shares of the construction company’s stock worth $3,160,000 after buying an additional 5,316 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity

In other news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction on Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the transaction, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the sale, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,197 shares of company stock worth $3,905,748 over the last 90 days. 0.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EME has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.50.

EMCOR Group Price Performance

EME opened at $439.21 on Monday. The firm has a fifty day moving average price of $389.79 and a 200 day moving average price of $442.15. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The stock has a market cap of $19.66 billion, a P/E ratio of 22.31 and a beta of 1.18.

EMCOR Group (NYSE:EME) last posted its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the business posted $4.17 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. Equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 4.42%.

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.