Icon Advisers Inc. Co. Acquires New Shares in EMCOR Group, Inc. (NYSE:EME)

Icon Advisers Inc. Co. acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,700 shares of the construction company's stock, valued at approximately $5,311,000. EMCOR Group comprises 1.2% of Icon Advisers Inc. Co.'s holdings, making the stock its 18th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $45,000. SJS Investment Consulting Inc. increased its position in shares of EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after purchasing an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after purchasing an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of EMCOR Group in the 4th quarter worth approximately $126,000. Finally, Whittier Trust Co. grew its position in EMCOR Group by 40.2% during the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company's stock valued at $127,000 after buying an additional 80 shares during the period. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Down 1.0 %

EME traded down $3.79 during trading on Friday, reaching $378.61. The company had a trading volume of 359,200 shares, compared to its average volume of 465,498. The business has a 50 day simple moving average of $391.76 and a 200-day simple moving average of $445.92. The stock has a market cap of $17.22 billion, a P/E ratio of 19.23 and a beta of 1.08. 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 issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, equities research analysts expect that EMCOR Group, Inc. will post 20.74 EPS 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. Investors of record on Thursday, April 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group's payout ratio is currently 4.64%.

EMCOR Group announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction on 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 sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is owned by company insiders.

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.