National Pension Service Reduces Stock Position in EMCOR Group, Inc. (NYSE:EME)

National Pension Service reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,137 shares of the construction company's stock after selling 6,100 shares during the quarter. National Pension Service owned approximately 0.21% of EMCOR Group worth $43,183,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its position in EMCOR Group by 1.5% in the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company's stock valued at $694,351,000 after buying an additional 24,541 shares during the period. Geode Capital Management LLC boosted its holdings in shares of EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company's stock valued at $428,313,000 after purchasing an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC grew its stake in EMCOR Group by 21.3% in the fourth 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in EMCOR Group by 11.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 334,509 shares of the construction company's stock worth $144,016,000 after purchasing an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in EMCOR Group by 45.2% during 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 in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EME has been the topic of several research reports. Northcoast Research started coverage on EMCOR Group in a research note on Friday, November 22nd. They set a "buy" rating and a $600.00 price target on the stock. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a "sell" rating and a $445.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $497.25.

EMCOR Group Stock Down 3.2 %

Shares of EMCOR Group stock traded down $13.18 on Monday, reaching $395.73. The stock had a trading volume of 560,355 shares, compared to its average volume of 517,509. EMCOR Group, Inc. has a 1 year low of $313.48 and a 1 year high of $545.29. The company has a 50 day moving average price of $458.38 and a 200 day moving average price of $449.73. The stock has a market capitalization of $18.00 billion, a P/E ratio of 20.10 and a beta of 1.11.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.53 by $0.79. The business 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, analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date was Thursday, January 16th. EMCOR Group's dividend payout ratio is presently 4.64%.

EMCOR Group declared that its Board of Directors has approved a stock 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 often a sign that the company's leadership believes its stock is undervalued.

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.