Magnetar Financial LLC Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Magnetar Financial LLC acquired a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,168 shares of the construction company's stock, valued at approximately $2,346,000.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company's stock valued at $46,000 after purchasing an additional 104 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after buying an additional 94 shares during the period. Prospera Private Wealth LLC acquired a new position in EMCOR Group during the third quarter worth approximately $55,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after buying an additional 25 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in EMCOR Group by 13.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock worth $101,000 after purchasing an additional 27 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on EME shares. Stifel Nicolaus decreased their price target 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 downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $497.25.

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EMCOR Group Stock Performance

Shares of EME stock traded down $1.20 on Tuesday, hitting $411.65. The stock had a trading volume of 359,374 shares, compared to its average volume of 432,698. The stock's 50 day moving average is $433.40 and its 200-day moving average is $451.24. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 20.91 and a beta of 1.14. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data 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 net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.81 billion. Equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.24%. EMCOR Group's dividend payout ratio is presently 4.64%.

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

Insider Buying and Selling at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.26% of the stock is currently owned by corporate 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.