EMCOR Group, Inc. (NYSE:EME) Short Interest Up 17.0% in February

EMCOR Group, Inc. (NYSE:EME) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 934,600 shares, an increase of 17.0% from the February 13th total of 798,900 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 477,000 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analyst Weigh In

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

EMCOR Group Trading Up 3.3 %

Shares of EME stock traded up $12.64 during trading hours on Wednesday, hitting $399.18. The company’s stock had a trading volume of 412,251 shares, compared to its average volume of 427,921. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 20.27 and a beta of 1.14. The business has a fifty day moving average of $438.93 and a 200-day moving average of $450.21. EMCOR Group has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. On average, equities analysts expect that EMCOR Group will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s payout ratio is 4.64%.

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the 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 directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EME. Norges Bank bought a new stake in EMCOR Group in the 4th quarter valued at about $299,855,000. Invesco Ltd. lifted its stake in shares of EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock worth $598,465,000 after acquiring an additional 288,765 shares during the period. World Investment Advisors LLC bought a new stake in shares of EMCOR Group in the 3rd quarter worth approximately $100,282,000. Ameriprise Financial Inc. raised its holdings in shares of EMCOR Group by 94.2% in the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company’s stock worth $139,349,000 after purchasing an additional 148,915 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of EMCOR Group by 2,246.2% during the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock valued at $65,036,000 after acquiring an additional 136,501 shares during the period. 92.59% of the stock is currently owned by institutional investors.

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.