Prudential Financial Inc. Has $6.51 Million Position in EMCOR Group, Inc. (NYSE:EME)

Prudential Financial Inc. reduced its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,352 shares of the construction company's stock after selling 3,353 shares during the quarter. Prudential Financial Inc.'s holdings in EMCOR Group were worth $6,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings 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 during the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 49,137 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in EMCOR Group by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company's stock worth $196,500,000 after buying an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in EMCOR Group by 11.4% in the 3rd 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 buying an additional 34,226 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of EMCOR Group by 15.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,280 shares of the construction company's stock valued at $104,739,000 after buying an additional 31,659 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

EME has been the topic of several analyst reports. Stifel Nicolaus lowered 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. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, EMCOR Group has a consensus rating of "Moderate Buy" and a consensus target price of $497.25.

EMCOR Group Trading Down 7.7 %

EMCOR Group stock traded down $27.16 on Friday, reaching $327.38. 156,532 shares of the stock were exchanged, compared to its average volume of 453,726. The firm has a fifty day moving average price of $411.84 and a two-hundred day moving average price of $450.39. The stock has a market cap of $14.89 billion, a PE ratio of 16.61 and a beta of 1.14. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 34.99% and a net margin of 6.51%. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

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

Insider Activity at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction on Thursday, March 13th. The stock was 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 in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.26% of the company's stock.

About EMCOR Group

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.