Oppenheimer Asset Management Inc. Decreases Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Oppenheimer Asset Management Inc. lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,131 shares of the construction company’s stock after selling 220 shares during the period. Oppenheimer Asset Management Inc.’s holdings in EMCOR Group were worth $2,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allegiance Financial Group Advisory Services LLC purchased a new stake in EMCOR Group during the 4th quarter valued at $222,000. Los Angeles Capital Management LLC raised its holdings in EMCOR Group by 3.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 240,639 shares of the construction company’s stock valued at $109,226,000 after buying an additional 7,670 shares during the period. Edge Capital Group LLC raised its holdings in EMCOR Group by 7.0% during the 4th quarter. Edge Capital Group LLC now owns 502 shares of the construction company’s stock valued at $228,000 after buying an additional 33 shares during the period. Crestwood Advisors Group LLC purchased a new stake in EMCOR Group during the 4th quarter valued at $831,000. Finally, IFP Advisors Inc raised its holdings in EMCOR Group by 9.7% during the 4th quarter. IFP Advisors Inc now owns 1,669 shares of the construction company’s stock valued at $758,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Up 1.4 %

Shares of EMCOR Group stock opened at $408.33 on Monday. EMCOR Group, Inc. has a 52 week low of $305.89 and a 52 week high of $545.29. The stock’s fifty day moving average is $458.38 and its two-hundred day moving average is $449.14. The company has a market capitalization of $18.78 billion, a PE ratio of 20.74 and a beta of 1.11.

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

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

EMCOR Group Dividend Announcement

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

Analysts Set New Price Targets

EME has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Northcoast Research assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective on the stock. Finally, Stifel Nicolaus cut their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus target price 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.