Daiwa Securities Group Inc. lowered its holdings in shares of Emcor Group Inc (NYSE:EME) by 40.8% in the fourth quarter, Holdings Channel reports. The fund owned 35,600 shares of the construction company’s stock after selling 24,500 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Emcor Group were worth $2,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Emcor Group by 3.9% in the third quarter. Victory Capital Management Inc. now owns 2,202,317 shares of the construction company’s stock valued at $152,797,000 after buying an additional 82,349 shares during the last quarter. State Street Corp raised its position in shares of Emcor Group by 2.5% in the second quarter. State Street Corp now owns 2,059,368 shares of the construction company’s stock valued at $134,642,000 after buying an additional 50,588 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. raised its position in shares of Emcor Group by 1.7% in the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 1,441,346 shares of the construction company’s stock valued at $100,001,000 after buying an additional 23,775 shares during the last quarter. 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 buying an additional 182,340 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Emcor Group by 6.5% in the third quarter. Wells Fargo & Company MN now owns 1,068,029 shares of the construction company’s stock valued at $74,100,000 after buying an additional 65,047 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

In other news, Director William P. Reid sold 4,647 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $82.90, for a total value of $385,236.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. 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 reissued a “hold” rating on shares of Emcor Group in a research report on Friday, November 17th. ValuEngine lowered shares of Emcor Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $88.00 price objective (up previously from $75.00) on shares of Emcor Group in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $88.50.

Emcor Group Inc (EME) opened at $75.44 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.44 and a quick ratio of 1.41. The firm has a market cap of $4,424.56, a P/E ratio of 20.67, a PEG ratio of 1.24 and a beta of 0.96. Emcor Group Inc has a 52-week low of $59.76 and a 52-week high of $85.08.

Emcor Group announced that its board has initiated a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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

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Emcor Group Company 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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