Arrowstreet Capital Limited Partnership Lowers Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Arrowstreet Capital Limited Partnership cut its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,704 shares of the construction company's stock after selling 43,922 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.29% of EMCOR Group worth $61,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EME. State Street Corp raised its position in shares of 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 acquiring an additional 24,541 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of EMCOR Group by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company's stock worth $428,313,000 after acquiring an additional 49,137 shares in the last quarter. Norges Bank purchased a new position in EMCOR Group during the 4th quarter valued at about $299,855,000. Allspring Global Investments Holdings LLC increased its stake in shares of EMCOR Group by 21.3% during 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 purchasing an additional 75,578 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of EMCOR Group by 11.1% during the fourth 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 during the last quarter. Institutional investors own 92.59% of the company's stock.

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Insider Buying and Selling

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction on Thursday, March 13th. The shares were 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 owns 27,642 shares of the company's stock, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.26% of the stock is currently owned by insiders.

EMCOR Group Trading Down 3.6 %

EME stock traded down $12.78 on Friday, hitting $341.76. The company had a trading volume of 1,172,065 shares, compared to its average volume of 457,581. The stock has a market cap of $15.54 billion, a price-to-earnings ratio of 17.36 and a beta of 1.14. The stock's 50-day simple moving average is $411.84 and its 200 day simple moving average is $450.39. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month 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 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 return on equity of 34.99% and a net margin of 6.51%. Research analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its Board of Directors 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 buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.