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

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 53.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,264,732 shares of the construction company’s stock after selling 1,423,485 shares during the quarter. EMCOR Group accounts for about 1.3% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its 20th biggest holding. Kayne Anderson Rudnick Investment Management LLC’s holdings in EMCOR Group were worth $574,062,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SkyView Investment Advisors LLC raised its stake in EMCOR Group by 0.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 7,533 shares of the construction company’s stock valued at $3,243,000 after purchasing an additional 68 shares during the last quarter. Fulcrum Equity Management bought a new position in shares of EMCOR Group during the 3rd quarter worth about $205,000. World Investment Advisors LLC acquired a new position in shares of EMCOR Group during the third quarter valued at about $238,000. Wilmington Savings Fund Society FSB lifted its stake in shares of EMCOR Group by 46.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 951 shares of the construction company’s stock valued at $409,000 after buying an additional 301 shares during the period. Finally, Franklin Resources Inc. grew its position in EMCOR Group by 7.8% during the third quarter. Franklin Resources Inc. now owns 68,808 shares of the construction company’s stock worth $31,143,000 after buying an additional 5,007 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stifel Nicolaus cut their price target on EMCOR Group from $600.00 to $514.00 and set a “buy” rating for the company in a report on Thursday, February 27th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $497.25.

EMCOR Group Stock Down 1.0 %

Shares of EME opened at $378.61 on Friday. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 19.23 and a beta of 1.08. The company has a 50-day moving average price of $390.41 and a two-hundred day moving average price of $445.69.

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

EMCOR Group announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. EMCOR Group’s dividend payout ratio (DPR) is presently 4.64%.

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.