Renaissance Group LLC Raises Stake in EMCOR Group, Inc. (NYSE:EME)

Renaissance Group LLC boosted its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,019 shares of the construction company's stock after purchasing an additional 1,164 shares during the quarter. Renaissance Group LLC's holdings in EMCOR Group were worth $5,020,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EME. Janus Henderson Group PLC raised its stake in shares of EMCOR Group by 236.3% during the third quarter. Janus Henderson Group PLC now owns 3,363 shares of the construction company's stock worth $1,448,000 after purchasing an additional 2,363 shares during the last quarter. Quantinno Capital Management LP increased its stake in EMCOR Group by 2.7% in the 3rd quarter. Quantinno Capital Management LP now owns 9,884 shares of the construction company's stock valued at $4,256,000 after buying an additional 256 shares during the period. State Street Corp raised its position in EMCOR Group by 1.5% during the 3rd quarter. State Street Corp now owns 1,612,782 shares of the construction company's stock worth $694,351,000 after buying an additional 24,541 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in EMCOR Group during the 3rd quarter worth $452,000. Finally, iA Global Asset Management Inc. acquired a new stake in shares of EMCOR Group in the 3rd quarter worth $434,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 2.3 %

Shares of NYSE EME traded up $8.52 during midday trading on Friday, hitting $383.72. The company had a trading volume of 455,205 shares, compared to its average volume of 465,775. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 19.49 and a beta of 1.08. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The business has a 50-day simple moving average of $398.04 and a two-hundred day simple moving average of $447.40.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly 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 for the quarter, compared to analyst estimates of $3.81 billion. On average, equities analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on EME shares. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus cut their target price on 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 issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.