iA Global Asset Management Inc. Buys 11,001 Shares of EMCOR Group, Inc. (NYSE:EME)

iA Global Asset Management Inc. boosted its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 1,090.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,010 shares of the construction company's stock after buying an additional 11,001 shares during the quarter. iA Global Asset Management Inc.'s holdings in EMCOR Group were worth $5,451,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in EMCOR Group by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company's stock valued at $587,000 after buying an additional 43 shares during the period. Pathstone Holdings LLC grew its holdings in shares of EMCOR Group by 4.3% during the third quarter. Pathstone Holdings LLC now owns 10,536 shares of the construction company's stock valued at $4,536,000 after buying an additional 439 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in EMCOR Group during the 3rd quarter valued at about $1,047,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in EMCOR Group during the third quarter worth $503,000. Finally, Prospera Private Wealth LLC purchased a new stake in EMCOR Group in the 3rd quarter valued at $55,000. Institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

EME has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target 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 cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $497.25.

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EMCOR Group Price Performance

Shares of EMCOR Group stock traded down $1.20 on Tuesday, reaching $411.65. 359,374 shares of the company traded hands, compared to its average volume of 432,698. The firm has a market capitalization of $18.72 billion, a PE ratio of 20.91 and a beta of 1.14. The company has a 50 day moving average of $433.40 and a 200 day moving average of $451.24. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

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

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group's payout ratio is 4.64%.

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

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 transaction 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 $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.26% of the stock is owned by company insiders.

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.