Quantbot Technologies LP Takes $1.19 Million Position in EMCOR Group, Inc. (NYSE:EME)

Quantbot Technologies LP acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,626 shares of the construction company’s stock, valued at approximately $1,192,000.

Several other hedge funds also recently bought and sold shares of the stock. World Investment Advisors LLC acquired a new position in EMCOR Group during the third quarter worth $100,282,000. Nordea Investment Management AB lifted its stake in EMCOR Group by 2,246.2% during the 4th quarter. Nordea Investment Management AB now owns 142,578 shares of the construction company’s stock worth $65,036,000 after acquiring an additional 136,501 shares in the last quarter. Swedbank AB boosted its holdings in EMCOR Group by 399.4% during the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company’s stock valued at $69,648,000 after acquiring an additional 122,716 shares during the period. Raymond James Financial Inc. acquired a new position in EMCOR Group in the 4th quarter valued at about $42,380,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in 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 worth $121,871,000 after purchasing an additional 88,074 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME stock opened at $411.65 on Wednesday. The company’s 50 day moving average price is $431.76 and its 200 day moving average price is $451.66. The firm has a market capitalization of $18.72 billion, a price-to-earnings ratio of 20.91 and a beta of 1.14. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30.

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

EMCOR Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is 4.64%.

Insider Transactions at EMCOR Group

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average 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.