Diametric Capital LP Has $538,000 Stock Position in EMCOR Group, Inc. (NYSE:EME)

Diametric Capital LP trimmed its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 53.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,185 shares of the construction company's stock after selling 1,346 shares during the quarter. Diametric Capital LP's holdings in EMCOR Group were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its position 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 valued at $694,351,000 after purchasing an additional 24,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in EMCOR Group by 5.2% during 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 during the last quarter. Norges Bank bought a new position in shares of EMCOR Group in the fourth quarter worth about $299,855,000. Allspring Global Investments Holdings LLC lifted its position 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 worth $196,500,000 after purchasing an additional 75,578 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of EMCOR Group by 11.1% in 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 in the last quarter. Institutional investors own 92.59% of the company's stock.

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Insider Transactions at EMCOR Group

In related 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 value of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EME has been the subject of several research reports. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut their target price on shares of EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $497.25.

EMCOR Group Stock Performance

NYSE:EME traded down $30.34 during mid-day trading on Thursday, hitting $354.62. The company had a trading volume of 491,150 shares, compared to its average volume of 454,860. The firm has a market cap of $16.13 billion, a P/E ratio of 18.01 and a beta of 1.14. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The business's fifty day moving average is $415.38 and its two-hundred day moving average is $451.06.

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

EMCOR Group declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. EMCOR Group's dividend payout ratio (DPR) is currently 4.64%.

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.