Victory Capital Management Inc. Trims Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Victory Capital Management Inc. lowered its position in shares of EMCOR Group, Inc. (NYSE:EME) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,799 shares of the construction company’s stock after selling 33,905 shares during the quarter. Victory Capital Management Inc. owned about 0.20% of EMCOR Group worth $41,214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EME. True Wealth Design LLC lifted its position in EMCOR Group by 3,466.7% during the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after acquiring an additional 104 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of EMCOR Group during the third quarter valued at approximately $55,000. Harbor Capital Advisors Inc. purchased a new position in shares of EMCOR Group during the third quarter valued at approximately $62,000. Finally, Rakuten Securities Inc. boosted its position in shares of EMCOR Group by 4,025.0% in the 3rd quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock worth $71,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus lowered their price objective 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. The Goldman Sachs Group started coverage on EMCOR Group in a research report on Friday, November 22nd. They issued a “sell” rating and a $445.00 price target for the company. Northcoast Research began coverage on shares of EMCOR Group in a research note on Friday, November 22nd. They issued a “buy” rating and a $600.00 price target on the stock. Finally, StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note 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 company. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $497.25.

EMCOR Group Price Performance

EMCOR Group stock opened at $376.10 on Friday. EMCOR Group, Inc. has a one year low of $313.48 and a one year high of $545.29. The business’s fifty day moving average is $450.59 and its 200 day moving average is $449.75. The stock has a market capitalization of $17.10 billion, a PE ratio of 19.10 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid 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 presently 4.64%.

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