Raymond James Financial Inc. Takes Position in EMCOR Group, Inc. (NYSE:EME)

Raymond James Financial Inc. purchased a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,370 shares of the construction company's stock, valued at approximately $42,380,000. Raymond James Financial Inc. owned about 0.20% of EMCOR Group at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in EMCOR Group in the 4th quarter worth about $45,000. SJS Investment Consulting Inc. boosted its position in shares of EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after acquiring an additional 25 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of EMCOR Group during the fourth quarter worth about $126,000. Finally, Whittier Trust Co. increased its holdings in shares of EMCOR Group by 40.2% during the fourth quarter. Whittier Trust Co. now owns 279 shares of the construction company's stock valued at $127,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. StockNews.com downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report 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 analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $497.25.

Insider Buying and Selling at EMCOR Group

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group 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 completion of the transaction, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Price Performance

NYSE:EME traded down $10.14 during midday trading on Monday, hitting $368.68. The company's stock had a trading volume of 18,593 shares, compared to its average volume of 463,193. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The firm has a market cap of $16.76 billion, a P/E ratio of 18.78 and a beta of 1.08. The firm's 50 day moving average is $390.41 and its 200-day moving average is $445.79.

EMCOR Group (NYSE:EME - Get Free Report) last issued its 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. The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group's dividend payout ratio is currently 4.64%.

EMCOR Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

EMCOR Group Company 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.