3,506 Shares in EMCOR Group, Inc. (NYSE:EME) Purchased by Kane Investment Management Inc.

Kane Investment Management Inc. acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,506 shares of the construction company's stock, valued at approximately $1,592,000. EMCOR Group makes up about 0.9% of Kane Investment Management Inc.'s investment portfolio, making the stock its 26th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in EMCOR Group by 28.0% during the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after buying an additional 288,765 shares in the last quarter. Geode Capital Management LLC boosted its position in EMCOR Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after purchasing an additional 25,502 shares during the last quarter. Norges Bank acquired a new stake in shares of EMCOR Group during the 4th quarter valued at about $299,855,000. Allspring Global Investments Holdings LLC lifted its stake in EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company's stock valued at $196,500,000 after acquiring an additional 75,578 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of EMCOR Group by 11.1% during the 4th quarter. JPMorgan Chase & Co. now owns 270,348 shares of the construction company's stock valued at $122,711,000 after purchasing an additional 27,068 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business'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 in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EME shares. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut 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. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $497.25.

EMCOR Group Stock Down 1.0 %

EMCOR Group stock traded down $3.79 during trading hours on Friday, hitting $378.61. The stock had a trading volume of 359,200 shares, compared to its average volume of 465,498. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The company has a market cap of $17.22 billion, a PE ratio of 19.23 and a beta of 1.08. The company has a 50-day moving average of $391.76 and a two-hundred day moving average of $445.92.

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

EMCOR Group announced that its board has approved a share buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently declared 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 4.64%.

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.