Bank of Montreal Can Grows Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Bank of Montreal Can raised its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,681 shares of the construction company's stock after purchasing an additional 5,420 shares during the period. Bank of Montreal Can's holdings in EMCOR Group were worth $8,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in EMCOR Group during the fourth quarter worth about $45,000. SJS Investment Consulting Inc. increased its holdings in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after buying an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 valued at $90,000 after buying an additional 25 shares in the last quarter. Physician Wealth Advisors Inc. bought a new stake in shares of EMCOR Group during the 4th quarter worth $126,000. Finally, Whittier Trust Co. grew its position in EMCOR Group by 40.2% in the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company's stock worth $127,000 after acquiring an additional 80 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm'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 transaction, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.26% of the company's stock.

EMCOR Group Trading Down 1.0 %

EMCOR Group stock traded down $3.79 during midday trading on Friday, hitting $378.61. The stock had a trading volume of 359,200 shares, compared to its average volume of 465,498. The firm's fifty day moving average is $391.76 and its two-hundred day moving average is $445.92. The company has a market capitalization of $17.22 billion, a PE ratio of 19.23 and a beta of 1.08. 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 released its earnings results 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 during the quarter, compared to analysts' expectations of $3.81 billion. As a group, equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has initiated 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 repurchase 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 shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 payout ratio is currently 4.64%.

Analysts Set New Price Targets

EME has been the subject of a number of analyst reports. StockNews.com lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus reduced their price target 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 equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.