Bank of New York Mellon Corp Has $179.89 Million Position in EMCOR Group, Inc. (NYSE:EME)

Bank of New York Mellon Corp lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,312 shares of the construction company’s stock after selling 37,555 shares during the period. Bank of New York Mellon Corp’s holdings in EMCOR Group were worth $179,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its holdings in shares of EMCOR Group by 14.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 631 shares of the construction company’s stock worth $272,000 after buying an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in EMCOR Group by 21.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,149 shares of the construction company’s stock valued at $5,230,000 after acquiring an additional 2,161 shares during the period. Pallas Capital Advisors LLC raised its stake in EMCOR Group by 67.5% during the third quarter. Pallas Capital Advisors LLC now owns 1,759 shares of the construction company’s stock worth $785,000 after acquiring an additional 709 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of EMCOR Group by 14.4% during the third quarter. First Trust Direct Indexing L.P. now owns 1,739 shares of the construction company’s stock valued at $749,000 after acquiring an additional 219 shares during the period. Finally, SteelPeak Wealth LLC boosted its stake in shares of EMCOR Group by 15.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,160 shares of the construction company’s stock valued at $499,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 4.3 %

Shares of EME stock opened at $402.58 on Friday. EMCOR Group, Inc. has a 1 year low of $289.51 and a 1 year high of $545.29. The firm’s 50 day moving average is $460.76 and its 200-day moving average is $448.49. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of 20.45 and a beta of 1.11.

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

EMCOR Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

EMCOR Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, January 16th. This represents a $1.00 annualized dividend and a yield of 0.25%. EMCOR Group’s dividend payout ratio is currently 5.08%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EME shares. Northcoast Research started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 target price for the company. Stifel Nicolaus cut their target price on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, 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. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from 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.