Whittier Trust Co. Increases Stock Position in EMCOR Group, Inc. (NYSE:EME)

Whittier Trust Co. grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 40.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 279 shares of the construction company’s stock after buying an additional 80 shares during the quarter. Whittier Trust Co.’s holdings in EMCOR Group were worth $127,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. iA Global Asset Management Inc. boosted its position in EMCOR Group by 1,090.3% during the 4th quarter. iA Global Asset Management Inc. now owns 12,010 shares of the construction company’s stock worth $5,451,000 after purchasing an additional 11,001 shares during the period. Magnetar Financial LLC purchased a new stake in EMCOR Group during the 4th quarter worth $2,346,000. Teacher Retirement System of Texas boosted its position in EMCOR Group by 41.1% during the 4th quarter. Teacher Retirement System of Texas now owns 113,142 shares of the construction company’s stock worth $51,355,000 after purchasing an additional 32,928 shares during the period. First National Bank of Hutchinson boosted its position in EMCOR Group by 4.7% during the 4th quarter. First National Bank of Hutchinson now owns 2,865 shares of the construction company’s stock worth $1,300,000 after purchasing an additional 128 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in EMCOR Group by 31.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,953 shares of the construction company’s stock worth $1,794,000 after purchasing an additional 947 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the sale, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

Shares of EME stock opened at $395.11 on Monday. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The firm has a market capitalization of $17.97 billion, a P/E ratio of 20.07 and a beta of 1.14. The company’s fifty day moving average price is $434.48 and its two-hundred day moving average price is $450.82.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.