Mitsubishi UFJ Asset Management Co. Ltd. Acquires 2,454 Shares of EMCOR Group, Inc. (NYSE:EME)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in EMCOR Group, Inc. (NYSE:EME) by 7.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,780 shares of the construction company’s stock after acquiring an additional 2,454 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in EMCOR Group were worth $16,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EME. Koshinski Asset Management Inc. grew its stake in EMCOR Group by 4.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock worth $298,000 after purchasing an additional 26 shares in the last quarter. Wolff Wiese Magana LLC raised its position in shares of EMCOR Group by 3,510.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock worth $311,000 after acquiring an additional 667 shares in the last quarter. PFW Advisors LLC purchased a new stake in shares of EMCOR Group during the 4th quarter worth $689,000. Verition Fund Management LLC boosted its position in EMCOR Group by 390.2% during the third quarter. Verition Fund Management LLC now owns 15,623 shares of the construction company’s stock valued at $6,726,000 after purchasing an additional 12,436 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in EMCOR Group in the third quarter valued at about $3,354,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EME. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. 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 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.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Stock Down 2.1 %

Shares of EMCOR Group stock opened at $371.22 on Monday. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The company has a 50 day moving average price of $424.19 and a 200 day moving average price of $451.81. The firm has a market capitalization of $16.88 billion, a P/E ratio of 18.85 and a beta of 1.14.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results 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 company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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

Insiders Place Their Bets

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by insiders.

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.