EMCOR Group, Inc. $EME Stock Holdings Trimmed by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lessened its position in shares of EMCOR Group, Inc. (NYSE:EME) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,930 shares of the construction company’s stock after selling 17,140 shares during the period. AustralianSuper Pty Ltd’s holdings in EMCOR Group were worth $55,815,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of EMCOR Group during the 3rd quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new stake in shares of EMCOR Group during the third quarter worth $31,000. Tobam lifted its position in shares of EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after buying an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group in the 2nd quarter valued at about $43,000. Finally, True Wealth Design LLC grew its position in shares of EMCOR Group by 333.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In related news, Director Robin A. Walker-Lee sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total transaction of $897,316.50. Following the transaction, the director owned 6,140 shares in the company, valued at $4,158,130.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by company insiders.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $727.02 on Thursday. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $778.64. The business’s fifty day moving average price is $639.76 and its two-hundred day moving average price is $638.29. The company has a market capitalization of $32.55 billion, a P/E ratio of 29.23 and a beta of 1.17.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $6.57 EPS for the quarter, meeting analysts’ consensus estimates of $6.57. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.27 billion. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $5.80 earnings per share. On average, research 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 initiated a stock repurchase plan on Thursday, December 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio (DPR) is currently 6.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. DA Davidson raised their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus raised their price target on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and increased their target price for the stock from $495.00 to $676.00 in a research report on Tuesday, October 7th. Finally, Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and an average price target of $698.83.

About EMCOR Group

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.