EMCOR Group, Inc. (NYSE:EME) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in EMCOR Group, Inc. (NYSE:EME) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,012 shares of the construction company’s stock after selling 1,007 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EMCOR Group were worth $17,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EME. Perigon Wealth Management LLC lifted its position in EMCOR Group by 2.5% in the fourth quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock worth $353,000 after purchasing an additional 19 shares during the period. Adirondack Trust Co. lifted its position in EMCOR Group by 5.0% in the fourth quarter. Adirondack Trust Co. now owns 420 shares of the construction company’s stock worth $191,000 after purchasing an additional 20 shares during the period. Exchange Traded Concepts LLC lifted its position in EMCOR Group by 1.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company’s stock worth $521,000 after purchasing an additional 21 shares during the period. Caprock Group LLC lifted its position in EMCOR Group by 0.4% in the third quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock worth $2,513,000 after purchasing an additional 22 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after purchasing an additional 25 shares during the period. 92.59% of the stock is owned by institutional investors.

EMCOR Group Stock Performance

Shares of NYSE:EME opened at $408.33 on Friday. EMCOR Group, Inc. has a one year low of $305.89 and a one year high of $545.29. The stock has a fifty day moving average of $459.53 and a 200-day moving average of $448.17. The company has a market capitalization of $18.78 billion, a PE ratio of 20.74 and a beta of 1.11.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.79. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. As a group, research 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 initiated a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

EMCOR Group Dividend Announcement

The company 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. This represents a $1.00 annualized dividend and a yield of 0.24%. The ex-dividend date was Thursday, January 16th. EMCOR Group’s dividend payout ratio (DPR) is currently 5.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EME shares. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “sell” rating and a $445.00 price objective for the company. Stifel Nicolaus cut their price objective on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Northcoast Research initiated coverage on EMCOR Group in a research report on Friday, November 22nd. They set a “buy” rating and a $600.00 price objective for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus target price 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.