Illinois Municipal Retirement Fund Acquires 1,311 Shares of EMCOR Group, Inc. (NYSE:EME)

Illinois Municipal Retirement Fund grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,796 shares of the construction company’s stock after buying an additional 1,311 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of EMCOR Group worth $5,988,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EME. Fuller & Thaler Asset Management Inc. increased its stake in EMCOR Group by 41.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,555 shares of the construction company’s stock worth $224,813,000 after purchasing an additional 310,718 shares during the period. Pacer Advisors Inc. increased its stake in EMCOR Group by 3,091.7% in the 4th quarter. Pacer Advisors Inc. now owns 313,998 shares of the construction company’s stock worth $67,645,000 after buying an additional 304,160 shares during the period. Invesco Ltd. lifted its holdings in EMCOR Group by 40.1% during the 3rd quarter. Invesco Ltd. now owns 919,304 shares of the construction company’s stock valued at $193,412,000 after buying an additional 263,330 shares in the last quarter. FMR LLC boosted its position in EMCOR Group by 7.3% in the 3rd quarter. FMR LLC now owns 3,551,683 shares of the construction company’s stock valued at $747,239,000 after buying an additional 241,920 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in EMCOR Group by 155.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 325,625 shares of the construction company’s stock valued at $68,509,000 after buying an additional 198,214 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on EME shares. DA Davidson reissued a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a research report on Friday, March 22nd. KeyCorp began coverage on EMCOR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

EMCOR Group Stock Performance

Shares of EME stock opened at $338.08 on Wednesday. EMCOR Group, Inc. has a fifty-two week low of $155.46 and a fifty-two week high of $369.53. The stock’s fifty day moving average is $323.00 and its two-hundred day moving average is $253.31. The firm has a market capitalization of $15.91 billion, a P/E ratio of 25.40 and a beta of 1.10.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.96. EMCOR Group had a net margin of 5.03% and a return on equity of 28.41%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the firm posted $2.63 earnings per share. EMCOR Group’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that EMCOR Group, Inc. will post 14.5 earnings per share for the current year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a $0.25 dividend. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, April 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. EMCOR Group’s dividend payout ratio (DPR) is presently 7.51%.

Insider Activity at EMCOR Group

In other news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,023 shares of the company’s stock, valued at $70,010,701.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

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.