EMCOR Group, Inc. (NYSE:EME) Shares Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC boosted its position in EMCOR Group, Inc. (NYSE:EME) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,229 shares of the construction company’s stock after purchasing an additional 6,551 shares during the quarter. Driehaus Capital Management LLC owned about 0.23% of EMCOR Group worth $40,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Matrix Trust Co acquired a new stake in shares of EMCOR Group during the second quarter worth $26,000. Proffitt & Goodson Inc. purchased a new position in shares of EMCOR Group during the 2nd quarter worth about $27,000. Innealta Capital LLC purchased a new position in shares of EMCOR Group during the 2nd quarter worth about $29,000. ORG Partners LLC purchased a new stake in shares of EMCOR Group during the 2nd quarter valued at $31,000. Finally, Independence Bank of Kentucky acquired a new stake in shares of EMCOR Group during the 1st quarter worth $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the transaction, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Price Performance

NYSE:EME opened at $427.29 on Friday. The business’s 50-day moving average is $377.82 and its two-hundred day moving average is $369.11. The firm has a market capitalization of $20.08 billion, a PE ratio of 28.19 and a beta of 1.07. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $443.96.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, topping the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. EMCOR Group’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 EPS. Equities analysts anticipate that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group declared that its Board of Directors has approved a share repurchase program on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a $0.25 dividend. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EME shares. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. DA Davidson lifted their price target on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

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.