Diametric Capital LP Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Diametric Capital LP lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 53.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,185 shares of the construction company’s stock after selling 1,346 shares during the period. Diametric Capital LP’s holdings in EMCOR Group were worth $538,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EME. Norges Bank purchased a new stake in EMCOR Group during the fourth quarter worth $299,855,000. World Investment Advisors LLC bought a new position in shares of EMCOR Group in the 3rd quarter worth $100,282,000. Nordea Investment Management AB raised its position in shares of EMCOR Group by 2,246.2% in the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after acquiring an additional 136,501 shares in the last quarter. Swedbank AB lifted its stake in shares of EMCOR Group by 399.4% during the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock worth $69,648,000 after purchasing an additional 122,716 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in EMCOR Group by 81.6% during the fourth quarter. American Century Companies Inc. now owns 213,947 shares of the construction company’s stock valued at $97,111,000 after purchasing an additional 96,108 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.26% of the stock is currently owned by insiders.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $369.33 on Tuesday. The firm has a market capitalization of $16.79 billion, a P/E ratio of 18.76 and a beta of 1.14. The business’s 50-day moving average is $421.43 and its 200 day moving average is $451.68. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

EMCOR Group (NYSE:EME) last posted 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. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has initiated a share repurchase plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors 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 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Wall Street Analyst Weigh In

EME has been the subject of a number of recent research reports. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. 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 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 company’s stock. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and an average 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.