Harvest Fund Management Co. Ltd Raises Position in EMCOR Group, Inc. (NYSE:EME)

Harvest Fund Management Co. Ltd increased its holdings in EMCOR Group, Inc. (NYSE:EME) by 31.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,953 shares of the construction company’s stock after buying an additional 947 shares during the period. Harvest Fund Management Co. Ltd’s holdings in EMCOR Group were worth $1,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EME. World Investment Advisors LLC purchased a new stake in shares of EMCOR Group in the third quarter worth $100,282,000. Nordea Investment Management AB raised its position in shares of EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after buying an additional 136,501 shares in the last quarter. Swedbank AB raised its position in shares of EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock worth $69,648,000 after buying an additional 122,716 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of EMCOR Group in the fourth quarter worth $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of EMCOR Group by 45.2% in the third 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 in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Up 3.3 %

Shares of NYSE:EME opened at $399.18 on Thursday. The stock’s 50-day moving average price is $437.41 and its 200-day moving average price is $449.86. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The stock has a market capitalization of $18.15 billion, a P/E ratio of 20.27 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.81 billion. As a group, research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. EMCOR Group’s dividend payout ratio (DPR) is currently 4.64%.

EMCOR Group announced that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on EME. The Goldman Sachs Group began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. Stifel Nicolaus lowered their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Northcoast Research began coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus target price of $497.25.

Insider Activity

In related 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 value of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.26% of the company’s stock.

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.