Candriam S.C.A. Trims Stake in EMCOR Group, Inc. (NYSE:EME)

Candriam S.C.A. cut its stake in EMCOR Group, Inc. (NYSE:EME) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,265 shares of the construction company’s stock after selling 334 shares during the quarter. Candriam S.C.A.’s holdings in EMCOR Group were worth $2,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Perigon Wealth Management LLC increased its holdings in shares of EMCOR Group by 2.5% in the 4th quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock valued at $353,000 after acquiring an additional 19 shares during the period. Adirondack Trust Co. increased its holdings in shares of EMCOR Group by 5.0% in the 4th quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock valued at $191,000 after acquiring an additional 20 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of EMCOR Group by 1.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock valued at $521,000 after acquiring an additional 21 shares during the period. Caprock Group LLC increased its holdings in shares of EMCOR Group by 0.4% in the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock valued at $2,513,000 after acquiring an additional 22 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of EMCOR Group by 14.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock valued at $90,000 after acquiring an additional 25 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

EMCOR Group stock opened at $376.10 on Monday. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of 19.10 and a beta of 1.14. EMCOR Group, Inc. has a 1-year low of $313.48 and a 1-year high of $545.29. The business has a fifty day moving average price of $450.59 and a 200-day moving average price of $450.29.

EMCOR Group (NYSE:EME) last issued its quarterly 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 return on equity of 34.99% and a net margin of 6.51%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.81 billion. On average, equities research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. EMCOR Group’s dividend payout ratio is currently 4.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 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 report on Thursday, February 27th. The Goldman Sachs Group assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price objective for the company. StockNews.com cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Northcoast Research assumed coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.