Sierra Summit Advisors LLC Takes Position in EMCOR Group, Inc. (NYSE:EME)

Sierra Summit Advisors LLC purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,229 shares of the construction company's stock, valued at approximately $5,551,000.

A number of other hedge funds have also modified their holdings of EME. Perigon Wealth Management LLC lifted its position in EMCOR Group by 2.5% during the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company's stock valued at $353,000 after purchasing an additional 19 shares during the period. Adirondack Trust Co. lifted its holdings in shares of EMCOR Group by 5.0% in the 4th quarter. Adirondack Trust Co. now owns 420 shares of the construction company's stock valued at $191,000 after buying an additional 20 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of EMCOR Group by 1.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company's stock valued at $521,000 after buying an additional 21 shares during the period. Petra Financial Advisors Inc. boosted its stake in shares of EMCOR Group by 1.4% in the fourth quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock worth $789,000 after buying an additional 24 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after acquiring an additional 25 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Performance

Shares of NYSE:EME traded up $8.52 during midday trading on Friday, reaching $383.72. 455,205 shares of the company's stock traded hands, compared to its average volume of 465,409. The company has a market cap of $17.45 billion, a P/E ratio of 19.49 and a beta of 1.08. The company has a fifty day simple moving average of $398.04 and a two-hundred day simple moving average of $447.28. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping 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 firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. As a group, research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group's dividend payout ratio is currently 4.64%.

EMCOR Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

EME has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price target on EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a report on Thursday, February 27th. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, EMCOR Group has an average rating of "Moderate Buy" and a consensus price target of $497.25.

Insider Buying and Selling at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.26% of the stock is currently owned by insiders.

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.