EMCOR Group, Inc. $EME Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 87.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,549 shares of the construction company’s stock after selling 64,064 shares during the quarter. Retirement Systems of Alabama’s holdings in EMCOR Group were worth $6,202,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EME. Quent Capital LLC acquired a new position in EMCOR Group in the third quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new stake in shares of EMCOR Group during the 3rd quarter worth approximately $31,000. Tobam lifted its position in shares of EMCOR Group by 1,900.0% during the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after buying an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group in the 2nd quarter valued at $43,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of EMCOR Group by 37.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock valued at $59,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.2%

EMCOR Group stock opened at $721.29 on Friday. The stock has a 50 day moving average of $645.50 and a two-hundred day moving average of $640.06. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $778.64. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 29.00 and a beta of 1.17.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $6.57. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the company posted $5.80 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, January 14th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is currently 6.43%.

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Thursday, December 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $495.00 to $676.00 in a research report on Tuesday, October 7th. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson raised their price target on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Robert W. Baird set a $713.00 price objective on EMCOR Group in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $698.83.

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total value of $897,316.50. Following the completion of the sale, the director owned 6,140 shares in the company, valued at approximately $4,158,130.80. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

About EMCOR Group

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.