Oppenheimer & Co. Inc. Raises Stake in EMCOR Group, Inc. (NYSE:EME)

Oppenheimer & Co. Inc. raised its position in EMCOR Group, Inc. (NYSE:EME) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,093 shares of the construction company’s stock after acquiring an additional 935 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in EMCOR Group were worth $4,581,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after acquiring an additional 24,541 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of EMCOR Group by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after buying an additional 49,137 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of EMCOR Group by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after buying an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of EMCOR Group by 11.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company’s stock worth $144,016,000 after buying an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of EMCOR Group by 45.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company’s stock worth $121,871,000 after buying an additional 88,074 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

EME stock opened at $408.33 on Friday. The company has a fifty day moving average price of $459.53 and a 200 day moving average price of $448.17. EMCOR Group, Inc. has a 12 month low of $305.89 and a 12 month high of $545.29. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. As a group, analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.24%. EMCOR Group’s dividend payout ratio is currently 5.08%.

EMCOR Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

EME has been the subject of several recent analyst reports. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. 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. Stifel Nicolaus reduced their price objective 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. Finally, The Goldman Sachs Group initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

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.