EMCOR Group, Inc. (NYSE:EME) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its position in EMCOR Group, Inc. (NYSE:EME) by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250 shares of the construction company’s stock after selling 114 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in EMCOR Group were worth $113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EME. Arizona State Retirement System increased its stake in EMCOR Group by 0.7% during the fourth quarter. Arizona State Retirement System now owns 13,553 shares of the construction company’s stock worth $6,152,000 after acquiring an additional 88 shares during the last quarter. Verdence Capital Advisors LLC purchased a new position in shares of EMCOR Group during the 4th quarter worth $200,000. Proficio Capital Partners LLC acquired a new stake in shares of EMCOR Group during the 4th quarter worth about $23,941,000. Assetmark Inc. increased its position in shares of EMCOR Group by 5.2% during the 4th quarter. Assetmark Inc. now owns 8,123 shares of the construction company’s stock worth $3,687,000 after purchasing an additional 405 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in EMCOR Group by 4.0% in the 4th quarter. Keybank National Association OH now owns 2,416 shares of the construction company’s stock valued at $1,097,000 after buying an additional 94 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 0.3 %

Shares of EME opened at $376.10 on Monday. The company has a market cap of $17.10 billion, a P/E ratio of 19.10 and a beta of 1.14. EMCOR Group, Inc. has a fifty-two week low of $313.48 and a fifty-two week high of $545.29. The firm’s 50 day moving average price is $450.59 and its 200 day moving average price is $450.29.

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

EMCOR Group announced that its Board of Directors has authorized a stock buyback 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 reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s payout ratio is presently 4.64%.

Analyst Ratings Changes

Several brokerages have weighed in on EME. Northcoast Research initiated coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus lowered 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, February 27th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target for the company. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.