Y Intercept Hong Kong Ltd Takes $2.90 Million Position in EMCOR Group, Inc. (NYSE:EME)

Y Intercept Hong Kong Ltd purchased a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,377 shares of the construction company's stock, valued at approximately $2,895,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EME. State Street Corp boosted its holdings in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company's stock worth $694,351,000 after buying an additional 24,541 shares during the period. Geode Capital Management LLC lifted its position in shares of EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company's stock valued at $428,313,000 after acquiring an additional 49,137 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 worth $196,500,000 after acquiring an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of EMCOR Group by 11.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company's stock worth $144,016,000 after acquiring an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of EMCOR Group by 45.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company's stock worth $121,871,000 after purchasing an additional 88,074 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. The Goldman Sachs Group began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a "sell" rating and a $445.00 target price for the company. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a "buy" rating and a $600.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $497.25.

EMCOR Group Trading Up 1.4 %

Shares of EME stock traded up $5.62 on Friday, reaching $408.33. The company's stock had a trading volume of 676,820 shares, compared to its average volume of 516,109. The stock's fifty day simple moving average is $459.53 and its 200-day simple moving average is $448.17. EMCOR Group, Inc. has a 1 year low of $305.89 and a 1 year high of $545.29. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts' consensus estimates of $5.53 by $0.79. The business 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%. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. EMCOR Group's dividend payout ratio (DPR) is presently 5.08%.

EMCOR Group declared that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.