Thrivent Financial for Lutherans Sells 12,898 Shares of EMCOR Group, Inc. (NYSE:EME)

Thrivent Financial for Lutherans decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 23.0% during the 4th quarter, Holdings Channel reports. The fund owned 43,269 shares of the construction company’s stock after selling 12,898 shares during the quarter. Thrivent Financial for Lutherans’ holdings in EMCOR Group were worth $19,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EME. World Investment Advisors LLC bought a new position in EMCOR Group during the 3rd quarter worth approximately $100,282,000. Nordea Investment Management AB lifted its stake in EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after buying an additional 136,501 shares in the last quarter. Swedbank AB lifted its stake in EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after buying an additional 122,716 shares in the last quarter. Raymond James Financial Inc. bought a new position in EMCOR Group in the fourth quarter valued at approximately $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in EMCOR Group by 45.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock valued at $121,871,000 after buying an additional 88,074 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 0.4 %

NYSE EME opened at $400.31 on Friday. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The company has a market capitalization of $18.20 billion, a PE ratio of 20.33 and a beta of 1.14. The firm’s 50 day moving average is $435.92 and its 200-day moving average is $449.51.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. The company had revenue of $3.77 billion for 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, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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

EMCOR Group Announces Dividend

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

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts have weighed in on EME shares. Stifel Nicolaus cut their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target on the stock. Finally, Northcoast Research began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

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.