Los Angeles Capital Management LLC Raises Position in EMCOR Group, Inc. (NYSE:EME)

Los Angeles Capital Management LLC grew its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,639 shares of the construction company's stock after buying an additional 7,670 shares during the period. Los Angeles Capital Management LLC owned 0.52% of EMCOR Group worth $109,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EME. World Investment Advisors LLC acquired a new stake in shares of EMCOR Group during the third quarter worth about $100,282,000. Nordea Investment Management AB lifted its stake in EMCOR Group by 2,246.2% in the fourth quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company's stock valued at $65,036,000 after buying an additional 136,501 shares during the last quarter. Swedbank AB grew its position in shares of EMCOR Group by 399.4% during the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company's stock worth $69,648,000 after acquiring an additional 122,716 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in EMCOR Group by 45.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,072 shares of the construction company's stock valued at $121,871,000 after purchasing an additional 88,074 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in EMCOR Group by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company's stock worth $196,500,000 after purchasing an additional 75,578 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Price Performance

NYSE EME traded up $5.62 on Friday, hitting $408.33. 676,820 shares of the company's stock were exchanged, compared to its average volume of 516,408. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 20.74 and a beta of 1.11. The firm's 50-day moving average price is $459.53 and its two-hundred day moving average price is $448.17. EMCOR Group, Inc. has a fifty-two week low of $305.89 and a fifty-two week high of $545.29.

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 for the quarter, beating analysts' consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. On average, research analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group's dividend payout ratio (DPR) is 5.08%.

EMCOR Group declared that its Board of Directors has initiated a share buyback 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 typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on EME. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They set a "buy" rating and a $600.00 target price for the company. The Goldman Sachs Group initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They set a "sell" rating and a $445.00 price objective for the company. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Finally, Stifel Nicolaus cut their price target on EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $497.25.

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.