NEOS Investment Management LLC Acquires Shares of 1,020 EMCOR Group, Inc. (NYSE:EME)

NEOS Investment Management LLC bought a new stake in shares of EMCOR Group, Inc. (NYSE:EME) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,020 shares of the construction company’s stock, valued at approximately $463,000.

Other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its position in shares of EMCOR Group by 2.5% in the 4th quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company’s stock worth $353,000 after acquiring an additional 19 shares in the last quarter. Adirondack Trust Co. raised its position in shares of EMCOR Group by 5.0% in the 4th 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 last quarter. Exchange Traded Concepts LLC raised its holdings 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 buying an additional 21 shares during the last quarter. Petra Financial Advisors Inc. raised its holdings in EMCOR Group by 1.4% in the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company’s stock worth $789,000 after acquiring an additional 24 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of 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 last quarter. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EME shares. Stifel Nicolaus lowered their price objective 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. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, EMCOR Group presently has a consensus rating of “Moderate Buy” and an average target price of $497.25.

EMCOR Group Price Performance

Shares of EME opened at $371.22 on Monday. The company has a 50 day simple moving average of $424.19 and a two-hundred day simple moving average of $451.81. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30. The firm has a market cap of $16.88 billion, a P/E ratio of 18.85 and a beta of 1.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating 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%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group declared that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to buy up to 2.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

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.