Emcor Group Inc (EME) Stake Boosted by ING Groep NV

ING Groep NV grew its position in Emcor Group Inc (NYSE:EME) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,874 shares of the construction company’s stock after purchasing an additional 1,626 shares during the quarter. ING Groep NV’s holdings in Emcor Group were worth $725,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EME. Allianz Asset Management GmbH bought a new position in shares of Emcor Group in the third quarter valued at approximately $25,720,000. Schwab Charles Investment Management Inc. raised its position in shares of Emcor Group by 80.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 818,050 shares of the construction company’s stock valued at $66,863,000 after purchasing an additional 364,172 shares during the period. Prudential Financial Inc. raised its position in shares of Emcor Group by 19.8% in the third quarter. Prudential Financial Inc. now owns 1,102,699 shares of the construction company’s stock valued at $76,506,000 after purchasing an additional 182,340 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Emcor Group by 368.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 215,939 shares of the construction company’s stock valued at $17,653,000 after purchasing an additional 169,890 shares during the period. Finally, Boston Advisors LLC raised its position in shares of Emcor Group by 210.9% in the fourth quarter. Boston Advisors LLC now owns 233,324 shares of the construction company’s stock valued at $19,074,000 after purchasing an additional 158,288 shares during the period. 94.91% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on EME. Zacks Investment Research lowered shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. KeyCorp restated a “hold” rating on shares of Emcor Group in a research note on Friday, November 17th. ValuEngine downgraded shares of Emcor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $88.00 price objective (up previously from $75.00) on shares of Emcor Group in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Emcor Group currently has an average rating of “Hold” and an average target price of $88.50.

Shares of Emcor Group Inc (EME) opened at $76.32 on Thursday. The stock has a market cap of $4,436.91, a price-to-earnings ratio of 20.73, a PEG ratio of 1.25 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. Emcor Group Inc has a 52 week low of $59.76 and a 52 week high of $85.08.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Tuesday, January 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Emcor Group’s payout ratio is 8.94%.

Emcor Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, Director William P. Reid sold 4,647 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total value of $385,236.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

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Emcor Group Profile

EMCOR Group, Inc is an electrical and mechanical construction, and facilities services firm in the United States. The Company provides building services and industrial services. Its segments are United States electrical construction and facilities services; United States mechanical construction and facilities services; United States building services; United States industrial services, and United Kingdom building services.

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Institutional Ownership by Quarter for Emcor Group (NYSE:EME)

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