Oregon Public Employees Retirement Fund Decreases Stock Position in EMCOR Group, Inc. (NYSE:EME)

Oregon Public Employees Retirement Fund lowered its stake in EMCOR Group, Inc. (NYSE:EME) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,390 shares of the construction company’s stock after selling 128 shares during the period. Oregon Public Employees Retirement Fund’s holdings in EMCOR Group were worth $4,262,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of EMCOR Group by 1.5% in the third quarter. State Street Corp now owns 1,612,782 shares of the construction company’s stock worth $694,351,000 after buying an additional 24,541 shares during the period. Geode Capital Management LLC increased its holdings in shares of EMCOR Group by 5.2% in the third quarter. Geode Capital Management LLC now owns 996,668 shares of the construction company’s stock worth $428,313,000 after buying an additional 49,137 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of EMCOR Group by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 429,623 shares of the construction company’s stock worth $196,500,000 after buying an additional 75,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of EMCOR Group by 11.4% in the third 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 buying an additional 34,226 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of EMCOR Group by 45.2% in 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 buying an additional 88,074 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

EME has been the topic of several analyst reports. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus began coverage on EMCOR Group in a report on Friday, November 15th. They set a “buy” rating and a $600.00 price target on the stock. Northcoast Research began coverage on EMCOR Group in a report on Friday, November 22nd. They set a “buy” rating and a $600.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $518.75.

EMCOR Group Price Performance

Shares of NYSE:EME opened at $420.92 on Thursday. EMCOR Group, Inc. has a 1 year low of $272.29 and a 1 year high of $545.29. The company has a market cap of $19.36 billion, a PE ratio of 21.38 and a beta of 1.11. The stock’s 50-day moving average is $461.63 and its 200 day moving average is $448.68.

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%. Analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

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 0.24%. EMCOR Group’s dividend payout ratio is presently 5.08%.

EMCOR Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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.