KLP Kapitalforvaltning AS Buys Shares of 48,600 EMCOR Group, Inc. (NYSE:EME)

KLP Kapitalforvaltning AS purchased a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,600 shares of the construction company's stock, valued at approximately $22,060,000. KLP Kapitalforvaltning AS owned about 0.11% of EMCOR Group at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. True Wealth Design LLC grew its stake in EMCOR Group by 3,466.7% during the third quarter. True Wealth Design LLC now owns 107 shares of the construction company's stock worth $46,000 after purchasing an additional 104 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 acquiring an additional 25 shares during the period. First Horizon Advisors Inc. boosted its stake in EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company's stock worth $101,000 after acquiring an additional 27 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in EMCOR Group by 153.6% in the third quarter. Private Trust Co. NA now owns 246 shares of the construction company's stock worth $106,000 after purchasing an additional 149 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective 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 report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $497.25.

EMCOR Group Stock Down 3.3 %

EME stock traded down $13.02 during mid-day trading on Thursday, reaching $379.23. 637,112 shares of the company traded hands, compared to its average volume of 433,426. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 19.26 and a beta of 1.14. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The firm's 50 day moving average price is $429.54 and its 200 day moving average price is $451.24.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $3.81 billion. On average, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group's dividend payout ratio (DPR) is presently 4.64%.

EMCOR Group declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding 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 an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 27,642 shares in the company, valued at $10,229,474.94. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by insiders.

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.