Jupiter Asset Management Ltd. Has $31.69 Million Position in EMCOR Group, Inc. (NYSE:EME)

Jupiter Asset Management Ltd. reduced its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,808 shares of the construction company’s stock after selling 3,509 shares during the period. Jupiter Asset Management Ltd. owned about 0.15% of EMCOR Group worth $31,686,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its position in EMCOR Group by 3,466.7% in the third quarter. True Wealth Design LLC now owns 107 shares of the construction company’s stock valued at $46,000 after buying an additional 104 shares in the last quarter. SJS Investment Consulting Inc. raised 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 worth $51,000 after buying an additional 94 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in EMCOR Group in the third quarter valued at approximately $55,000. Rakuten Securities Inc. increased its stake in EMCOR Group by 4,025.0% in the third quarter. Rakuten Securities Inc. now owns 165 shares of the construction company’s stock valued at $71,000 after purchasing an additional 161 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company’s stock worth $90,000 after acquiring an additional 25 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 3.4 %

EME stock opened at $373.47 on Wednesday. EMCOR Group, Inc. has a 12 month low of $314.75 and a 12 month high of $545.30. The firm has a market cap of $16.98 billion, a P/E ratio of 18.97 and a beta of 1.14. The company’s 50-day moving average price is $447.07 and its two-hundred day moving average price is $450.14.

EMCOR Group (NYSE:EME) last posted its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share 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 company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. Equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

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

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. EMCOR Group’s payout ratio is currently 4.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EME. The Goldman Sachs Group began coverage on shares of EMCOR Group in a report on Friday, November 22nd. They set a “sell” rating and a $445.00 target price for the company. Northcoast Research initiated coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a “buy” rating and a $600.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, StockNews.com lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EMCOR Group has a consensus rating of “Moderate Buy” and a consensus price target of $497.25.

About EMCOR Group

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.