Kayne Anderson Rudnick Investment Management LLC Has $574.06 Million Stock Position in EMCOR Group, Inc. (NYSE:EME)

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 53.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,264,732 shares of the construction company’s stock after selling 1,423,485 shares during the period. EMCOR Group comprises 1.3% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 2.75% of EMCOR Group worth $574,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EME. Summit Securities Group LLC acquired a new stake in shares of EMCOR Group during the fourth quarter valued at approximately $45,000. SJS Investment Consulting Inc. raised its stake in EMCOR Group by 494.7% during the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company’s stock valued at $51,000 after purchasing an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings 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 valued at $90,000 after purchasing an additional 25 shares in the last quarter. Altshuler Shaham Ltd boosted its position in shares of EMCOR Group by 2,063.6% in the fourth quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock worth $108,000 after buying an additional 227 shares during the period. Finally, GeoWealth Management LLC grew its holdings in shares of EMCOR Group by 12.4% during the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company’s stock valued at $115,000 after buying an additional 28 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

Shares of EME stock opened at $378.61 on Friday. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The stock’s 50-day moving average is $390.41 and its two-hundred day moving average is $445.69. The firm has a market cap of $17.22 billion, a P/E ratio of 19.23 and a beta of 1.08.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.79. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. EMCOR Group’s payout ratio is presently 4.64%.

Insider Buying and Selling

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the sale, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on EME. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $497.25.

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.