EMCOR Group, Inc. (NYSE:EME) Holdings Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME) by 8.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,430 shares of the construction company’s stock after selling 226 shares during the period. Maryland State Retirement & Pension System’s holdings in EMCOR Group were worth $1,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EME. Pathstone Holdings LLC grew its position in EMCOR Group by 4.3% during the 3rd quarter. Pathstone Holdings LLC now owns 10,536 shares of the construction company’s stock worth $4,536,000 after purchasing an additional 439 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of EMCOR Group during the 3rd quarter valued at $503,000. Commerce Bank boosted its stake in shares of EMCOR Group by 225.0% during the 3rd quarter. Commerce Bank now owns 10,141 shares of the construction company’s stock valued at $4,366,000 after buying an additional 7,021 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock valued at $101,000 after buying an additional 27 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of EMCOR Group by 46.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,066 shares of the construction company’s stock valued at $28,874,000 after buying an additional 21,385 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group 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 transaction, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.26% of the stock is owned by company insiders.

EMCOR Group Trading Down 1.1 %

EME stock opened at $395.11 on Friday. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The company has a fifty day simple moving average of $434.48 and a 200 day simple moving average of $450.16. The firm has a market cap of $17.97 billion, a PE ratio of 20.07 and a beta of 1.14.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share (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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. As a group, analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

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

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group’s payout ratio is presently 4.64%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EME. StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.