CenterBook Partners LP Purchases New Shares in EMCOR Group, Inc. (NYSE:EME)

CenterBook Partners LP purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,187 shares of the construction company's stock, valued at approximately $2,354,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in EMCOR Group in the 4th quarter worth approximately $299,855,000. Invesco Ltd. grew its holdings in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after purchasing an additional 288,765 shares in the last quarter. Nordea Investment Management AB increased its position in shares of EMCOR Group by 2,246.2% during the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company's stock worth $65,036,000 after acquiring an additional 136,501 shares during the period. Swedbank AB raised its position in EMCOR Group by 399.4% in the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company's stock valued at $69,648,000 after purchasing an additional 122,716 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of EMCOR Group by 81.6% in the 4th quarter. American Century Companies Inc. now owns 213,947 shares of the construction company's stock valued at $97,111,000 after buying an additional 96,108 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

EMCOR Group Trading Up 2.0 %

Shares of EME traded up $7.81 during midday trading on Tuesday, reaching $393.60. 143,617 shares of the company were exchanged, compared to its average volume of 464,239. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The stock has a 50-day moving average price of $396.63 and a 200-day moving average price of $447.11. The company has a market cap of $17.90 billion, a price-to-earnings ratio of 19.99 and a beta of 1.08.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.81 billion. Equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

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

EMCOR Group announced that its board has authorized 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 repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value 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 approximately $10,229,474.94. This 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 link. Insiders own 1.26% of the company's stock.

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.