Teacher Retirement System of Texas Has $51.36 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Teacher Retirement System of Texas raised its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 41.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,142 shares of the construction company's stock after acquiring an additional 32,928 shares during the period. Teacher Retirement System of Texas owned about 0.25% of EMCOR Group worth $51,355,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EME. State Street Corp lifted its holdings 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 valued at $694,351,000 after purchasing an additional 24,541 shares during the last quarter. Geode Capital Management LLC increased its holdings in EMCOR Group by 5.2% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC raised its position in EMCOR Group by 21.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company's stock valued at $196,500,000 after purchasing an additional 75,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 acquiring an additional 34,226 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of EMCOR Group by 45.2% during the third 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 during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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EMCOR Group Trading Down 0.3 %

Shares of NYSE EME traded down $1.20 during midday trading on Tuesday, reaching $411.65. The company's stock had a trading volume of 359,374 shares, compared to its average volume of 432,698. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The stock has a 50 day simple moving average of $433.40 and a 200-day simple moving average of $451.24. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 20.91 and a beta of 1.14.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, beating analysts' consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion during 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%. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group announced that its board has initiated a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group's payout ratio is presently 4.64%.

Insider Activity

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EME shares. Stifel Nicolaus cut their price target 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. StockNews.com lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, EMCOR Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.25.

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.