EMCOR Group, Inc. (NYSE:EME) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,264,732 shares of the construction company's stock after selling 1,423,485 shares during the period. EMCOR Group makes up 1.3% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 20th biggest position. Kayne Anderson Rudnick Investment Management LLC owned 2.75% of EMCOR Group worth $574,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SkyView Investment Advisors LLC boosted its holdings in shares of EMCOR Group by 0.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 7,533 shares of the construction company's stock worth $3,243,000 after purchasing an additional 68 shares during the last quarter. Fulcrum Equity Management purchased a new position in EMCOR Group during the third quarter worth approximately $205,000. World Investment Advisors LLC acquired a new position in EMCOR Group during the third quarter worth $238,000. Wilmington Savings Fund Society FSB grew its holdings in EMCOR Group by 46.3% in the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. grew its holdings in EMCOR Group by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 68,808 shares of the construction company's stock valued at $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.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EME shares. StockNews.com lowered EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus decreased their target price on shares of EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, EMCOR Group presently has an average rating of "Moderate Buy" and an average price target of $497.25.

Insiders Place Their Bets

In related 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 sale, the chief accounting officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by insiders.

EMCOR Group Stock Performance

Shares of NYSE EME traded up $11.00 during mid-day trading on Wednesday, reaching $384.20. 404,668 shares of the company's stock were exchanged, compared to its average volume of 464,385. The company's 50-day moving average is $387.91 and its 200-day moving average is $444.78. The firm has a market capitalization of $17.47 billion, a price-to-earnings ratio of 19.51 and a beta of 1.08. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Wednesday, February 26th. The construction company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. As a group, equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Thursday, April 17th. EMCOR Group's payout ratio is 4.64%.

EMCOR Group announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

EMCOR Group 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.