Bridgewater Associates LP Buys 42,519 Shares of EMCOR Group, Inc. (NYSE:EME)

Bridgewater Associates LP raised its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 191.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,682 shares of the construction company's stock after acquiring an additional 42,519 shares during the quarter. Bridgewater Associates LP owned approximately 0.14% of EMCOR Group worth $29,359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kane Investment Management Inc. bought a new position in EMCOR Group in the fourth quarter valued at about $1,592,000. Ontario Teachers Pension Plan Board increased its holdings in EMCOR Group by 68.2% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 7,978 shares of the construction company's stock worth $3,621,000 after purchasing an additional 3,236 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of EMCOR Group in the fourth quarter valued at about $36,120,000. LaSalle St. Investment Advisors LLC purchased a new position in EMCOR Group in the fourth quarter worth $210,000. Finally, Icon Advisers Inc. Co. bought a new position in shares of EMCOR Group during the 4th quarter valued at approximately $5,311,000. Institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

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

EMCOR Group Stock Performance

Shares of EME traded down $3.79 during trading hours on Friday, hitting $378.61. The company had a trading volume of 359,200 shares, compared to its average volume of 465,826. The firm has a fifty day moving average price of $390.41 and a 200-day moving average price of $445.58. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 19.23 and a beta of 1.08.

EMCOR Group (NYSE:EME - Get Free Report) last issued its 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Thursday, April 17th. EMCOR Group's payout ratio is 4.64%.

EMCOR Group announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other 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 sale, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.26% of the company's stock.

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.