EMCOR Group, Inc. (NYSE:EME) Holdings Increased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co grew its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,367 shares of the construction company's stock after purchasing an additional 2,444 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.14% of EMCOR Group worth $29,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of EMCOR Group in the fourth quarter valued at approximately $45,000. SJS Investment Consulting Inc. grew its stake in shares of EMCOR Group by 494.7% in the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after acquiring an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after acquiring an additional 25 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in EMCOR Group by 2,063.6% in the fourth quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock valued at $108,000 after purchasing an additional 227 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new position in EMCOR Group in the fourth quarter valued at $126,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on EME. StockNews.com downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Stifel Nicolaus dropped their target price on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $497.25.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.26% of the company's stock.

EMCOR Group Price Performance

EMCOR Group stock traded up $11.00 during mid-day trading on Wednesday, hitting $384.20. 404,668 shares of the company were exchanged, compared to its average volume of 464,127. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The business's 50 day simple moving average is $387.91 and its two-hundred day simple moving average is $444.78. The company has a market capitalization of $17.47 billion, a P/E ratio of 19.51 and a beta of 1.08.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping analysts' consensus estimates of $5.53 by $0.79. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. Equities research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group's payout ratio is currently 4.64%.

EMCOR Group announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors 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.