Pinebridge Investments L.P. Boosts Stake in EMCOR Group, Inc. (NYSE:EME)

Pinebridge Investments L.P. boosted its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 136.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,019 shares of the construction company's stock after buying an additional 13,840 shares during the quarter. Pinebridge Investments L.P. owned 0.05% of EMCOR Group worth $10,902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in EMCOR Group in the 4th quarter worth about $299,855,000. Invesco Ltd. increased its stake in EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after purchasing an additional 288,765 shares during the period. Nordea Investment Management AB boosted its stake in shares of 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 purchasing an additional 136,501 shares during the period. First Trust Advisors LP lifted its holdings in EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after buying an additional 129,186 shares in the last quarter. Finally, Swedbank AB grew its stake in EMCOR Group by 399.4% in the 4th 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 in the last quarter. Institutional investors own 92.59% of the company's stock.

EMCOR Group Trading Up 0.1 %

Shares of EME traded up $0.30 during trading hours on Monday, hitting $410.54. The company had a trading volume of 689,254 shares, compared to its average volume of 462,723. The company has a market capitalization of $18.50 billion, a PE ratio of 20.85 and a beta of 1.08. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The company's fifty day moving average price is $386.13 and its two-hundred day moving average price is $443.88.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts' consensus estimates of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.81 billion. Analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.24%. EMCOR Group's dividend payout ratio (DPR) is 4.64%.

EMCOR Group announced that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EME has been the subject of several research analyst reports. StockNews.com downgraded shares of 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 shares of EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $497.25.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm's 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 completion of the sale, the chief accounting officer now owns 27,642 shares of the company's stock, valued at $10,229,474.94. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.26% of the company's stock.

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.