Mount Lucas Management LP Has $520,000 Holdings in EMCOR Group, Inc. (NYSE:EME)

Mount Lucas Management LP lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,145 shares of the construction company’s stock after selling 243 shares during the period. Mount Lucas Management LP’s holdings in EMCOR Group were worth $520,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. World Investment Advisors LLC acquired a new position in EMCOR Group in the third quarter valued at $100,282,000. Nordea Investment Management AB lifted its holdings in 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 valued at $65,036,000 after buying an additional 136,501 shares during the period. Swedbank AB lifted its holdings in EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after buying an additional 122,716 shares during the period. Raymond James Financial Inc. acquired a new position in EMCOR Group in the fourth quarter valued at $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in 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 valued at $121,871,000 after buying an additional 88,074 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Up 0.3 %

Shares of NYSE EME opened at $376.10 on Monday. The firm’s 50-day moving average price is $450.59 and its 200-day moving average price is $450.29. EMCOR Group, Inc. has a 1-year low of $313.48 and a 1-year high of $545.29. The firm has a market capitalization of $17.10 billion, a P/E ratio of 19.10 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 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 analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced 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 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%.

EMCOR Group announced that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

EMCOR Group 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.