Resona Asset Management Co. Ltd. Takes Position in EMCOR Group, Inc. (NYSE:EME)

Resona Asset Management Co. Ltd. bought a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,075 shares of the construction company's stock, valued at approximately $6,398,000.

A number of other large investors have also added to or reduced their stakes in the business. Landscape Capital Management L.L.C. increased its holdings in shares of EMCOR Group by 93.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 2,622 shares of the construction company's stock valued at $1,190,000 after purchasing an additional 1,265 shares during the last quarter. PAX Financial Group LLC grew its stake in EMCOR Group by 24.2% in the 4th quarter. PAX Financial Group LLC now owns 735 shares of the construction company's stock valued at $334,000 after buying an additional 143 shares during the last quarter. Foundry Partners LLC raised its holdings in EMCOR Group by 9.3% in the 4th quarter. Foundry Partners LLC now owns 1,779 shares of the construction company's stock valued at $807,000 after acquiring an additional 151 shares during the period. Pitcairn Co. lifted its position in EMCOR Group by 10.5% during the fourth quarter. Pitcairn Co. now owns 4,012 shares of the construction company's stock worth $1,821,000 after acquiring an additional 381 shares during the last quarter. Finally, Motley Fool Asset Management LLC bought a new stake in shares of EMCOR Group during the fourth quarter worth approximately $471,000. Institutional investors own 92.59% of the company's stock.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.26% of the company's stock.

EMCOR Group Stock Performance

Shares of EME stock traded up $8.52 during trading on Friday, hitting $383.72. The company had a trading volume of 455,205 shares, compared to its average volume of 465,775. The firm has a market capitalization of $17.45 billion, a P/E ratio of 19.49 and a beta of 1.08. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The stock's 50-day moving average price is $398.04 and its 200 day moving average price is $447.40.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating analysts' consensus estimates of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. On average, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group declared that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.