Gallo Partners LP Makes New $1.53 Million Investment in EMCOR Group, Inc. (NYSE:EME)

Gallo Partners LP bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,371 shares of the construction company’s stock, valued at approximately $1,530,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Koshinski Asset Management Inc. increased its position in shares of EMCOR Group by 4.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company’s stock valued at $298,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in EMCOR Group by 3,510.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company’s stock valued at $311,000 after purchasing an additional 667 shares during the last quarter. PFW Advisors LLC bought a new stake in shares of EMCOR Group in the fourth quarter valued at approximately $689,000. Central Pacific Bank Trust Division boosted its holdings in shares of EMCOR Group by 382.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,833 shares of the construction company’s stock valued at $832,000 after purchasing an additional 1,453 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in EMCOR Group by 108.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,389 shares of the construction company’s stock worth $7,439,000 after acquiring an additional 8,545 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 0.8 %

Shares of NYSE EME opened at $413.72 on Wednesday. The company has a market cap of $18.64 billion, a P/E ratio of 21.01 and a beta of 1.08. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30. The business has a 50-day simple moving average of $385.43 and a two-hundred day simple moving average of $443.39.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate 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 net margin of 6.51% and a return on equity of 34.99%. Equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, April 17th. EMCOR Group’s payout ratio is 4.64%.

Insider Buying and Selling

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EME shares. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.