Retirement Systems of Alabama Grows Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Retirement Systems of Alabama raised its holdings in EMCOR Group, Inc. (NYSE:EME) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,568 shares of the construction company’s stock after purchasing an additional 67 shares during the period. Retirement Systems of Alabama’s holdings in EMCOR Group were worth $15,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of EME. Nordea Investment Management AB lifted its stake in shares of EMCOR Group by 10.7% during the fourth quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company’s stock valued at $21,880,000 after buying an additional 9,752 shares during the period. Asset Management One Co. Ltd. acquired a new position in EMCOR Group during the fourth quarter worth approximately $992,000. Federated Hermes Inc. increased its position in EMCOR Group by 20.1% during the fourth quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company’s stock worth $22,094,000 after purchasing an additional 17,188 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in EMCOR Group by 1.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company’s stock worth $56,078,000 after purchasing an additional 2,880 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in EMCOR Group during the fourth quarter worth approximately $4,054,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 6,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at approximately $70,010,701.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

EMCOR Group Stock Down 1.8 %

EMCOR Group stock opened at $357.15 on Wednesday. EMCOR Group, Inc. has a 52-week low of $161.49 and a 52-week high of $369.53. The firm has a fifty day moving average of $333.10 and a 200-day moving average of $258.45. The firm has a market capitalization of $16.79 billion, a P/E ratio of 23.56 and a beta of 1.10.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $1.25. The company had revenue of $3.43 billion during the quarter. EMCOR Group had a net margin of 5.48% and a return on equity of 30.38%. On average, research analysts expect that EMCOR Group, Inc. will post 16 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a research report on Friday, March 22nd. KeyCorp initiated coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company.

EMCOR Group Company 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.