Mitsubishi UFJ Asset Management Co. Ltd. Buys 2,454 Shares of EMCOR Group, Inc. (NYSE:EME)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,780 shares of the construction company's stock after acquiring an additional 2,454 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of EMCOR Group worth $16,000,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. World Investment Advisors LLC bought a new position in shares of EMCOR Group in the third quarter valued at approximately $100,282,000. Nordea Investment Management AB grew its position in EMCOR Group by 2,246.2% during 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 period. Swedbank AB boosted its stake in EMCOR Group by 399.4% in the fourth quarter. Swedbank AB now owns 153,443 shares of the construction company's stock valued at $69,648,000 after acquiring an additional 122,716 shares during the last quarter. American Century Companies Inc. increased its stake in shares of EMCOR Group by 81.6% during the 4th quarter. American Century Companies Inc. now owns 213,947 shares of the construction company's stock worth $97,111,000 after purchasing an additional 96,108 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in EMCOR Group in the fourth quarter valued at approximately $42,380,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction 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 sale, the chief accounting officer now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.26% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

EME has been the topic of several research reports. StockNews.com lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their price objective on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, EMCOR Group has a consensus rating of "Moderate Buy" and an average target price of $497.25.

EMCOR Group Price Performance

Shares of NYSE:EME traded down $12.78 during trading on Friday, hitting $341.76. 1,172,065 shares of the company were exchanged, compared to its average volume of 457,860. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The stock has a 50 day moving average of $408.04 and a 200 day moving average of $449.97. The company has a market cap of $15.54 billion, a PE ratio of 17.36 and a beta of 1.14.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Wednesday, February 26th. The construction company reported $6.32 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. Sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has authorized a share repurchase 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 purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.