Ensign Peak Advisors Inc Buys 1,837 Shares of EMCOR Group, Inc. (NYSE:EME)

Ensign Peak Advisors Inc boosted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,634 shares of the construction company’s stock after buying an additional 1,837 shares during the period. Ensign Peak Advisors Inc owned approximately 0.07% of EMCOR Group worth $14,813,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its stake in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company’s stock valued at $598,465,000 after acquiring an additional 288,765 shares during the period. Geode Capital Management LLC grew its holdings in EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company’s stock valued at $463,320,000 after purchasing an additional 25,502 shares during the last quarter. Norges Bank purchased a new stake in EMCOR Group in the 4th quarter worth about $299,855,000. Northern Trust Corp lifted its stake in EMCOR Group by 22.9% in the fourth quarter. Northern Trust Corp now owns 550,883 shares of the construction company’s stock worth $250,046,000 after purchasing an additional 102,738 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in EMCOR Group by 35.2% in the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company’s stock worth $225,332,000 after purchasing an additional 129,186 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on EME. Stifel Nicolaus reduced their price target on EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $494.50.

Insider Activity

In related news, Director Robin A. Walker-Lee sold 947 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the transaction, the director now owns 7,094 shares of the company’s stock, valued at $2,928,616.02. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction on 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 directly owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,197 shares of company stock worth $3,905,748. 0.83% of the stock is currently owned by corporate insiders.

EMCOR Group Stock Down 0.2%

EME opened at $439.21 on Monday. The stock’s fifty day moving average is $389.79 and its two-hundred day moving average is $442.15. The company has a market capitalization of $19.66 billion, a P/E ratio of 22.31 and a beta of 1.18. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.17 earnings per share. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is 4.42%.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign 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.