Korea Investment CORP Has $24.62 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Korea Investment CORP cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,243 shares of the construction company's stock after selling 36,164 shares during the period. Korea Investment CORP owned approximately 0.12% of EMCOR Group worth $24,621,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of EMCOR Group by 142.1% in the 3rd quarter. Cerity Partners LLC now owns 12,641 shares of the construction company's stock valued at $5,442,000 after buying an additional 7,419 shares during the period. Private Trust Co. NA increased its holdings in shares of 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 acquiring an additional 149 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of EMCOR Group by 0.7% in the third quarter. Bank of Montreal Can now owns 12,261 shares of the construction company's stock worth $5,237,000 after acquiring an additional 82 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of EMCOR Group by 3.1% during the third quarter. D.A. Davidson & CO. now owns 4,545 shares of the construction company's stock worth $1,957,000 after purchasing an additional 135 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of EMCOR Group by 2.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 92,374 shares of the construction company's stock valued at $39,770,000 after purchasing an additional 2,552 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Remove Ads

Analyst Ratings Changes

EME has been the topic of a number of research reports. StockNews.com lowered shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus reduced their price objective on EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $497.25.

EMCOR Group Price Performance

EME stock traded up $5.43 during mid-day trading on Wednesday, reaching $380.93. The company had a trading volume of 121,433 shares, compared to its average volume of 518,493. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.29. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 19.34 and a beta of 1.14. The stock has a 50 day simple moving average of $418.39 and a two-hundred day simple moving average of $451.53.

EMCOR Group (NYSE:EME - Get Free Report) last posted 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 net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given 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 was Thursday, January 16th. EMCOR Group's dividend payout ratio (DPR) is presently 4.64%.

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

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.26% of the company's stock.

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.