Pictet Asset Management Holding SA Grows Stake in EMCOR Group, Inc. (NYSE:EME)

Pictet Asset Management Holding SA grew its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 62,783 shares of the construction company's stock after acquiring an additional 3,824 shares during the quarter. Pictet Asset Management Holding SA owned about 0.14% of EMCOR Group worth $28,497,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bank of Montreal Can grew its stake in EMCOR Group by 0.7% during the third quarter. Bank of Montreal Can now owns 12,261 shares of the construction company's stock worth $5,237,000 after buying an additional 82 shares in the last quarter. Fiduciary Trust Co bought a new stake in EMCOR Group during the third quarter worth $235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in EMCOR Group by 11.4% during 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 purchasing an additional 34,226 shares during the last quarter. Walleye Capital LLC boosted its holdings in shares of EMCOR Group by 140.0% in the 3rd quarter. Walleye Capital LLC now owns 4,407 shares of the construction company's stock valued at $1,897,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of EMCOR Group by 14.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,670 shares of the construction company's stock valued at $2,441,000 after purchasing an additional 703 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 27,642 shares of the company's stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EME shares. Stifel Nicolaus reduced their price objective 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. StockNews.com lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, EMCOR Group currently has a consensus rating of "Moderate Buy" and an average price target of $497.25.

EMCOR Group Stock Performance

Shares of NYSE:EME traded down $15.89 during trading on Friday, reaching $338.66. The stock had a trading volume of 307,451 shares, compared to its average volume of 518,020. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 17.20 and a beta of 1.14. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.29. The firm's fifty day moving average is $411.84 and its 200 day moving average is $450.39.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. On average, research analysts forecast 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 authorized a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

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.