EMCOR Group, Inc. (NYSE:EME) is Kayne Anderson Rudnick Investment Management LLC’s Largest Position

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in EMCOR Group, Inc. (NYSE:EME) by 10.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,663,747 shares of the construction company’s stock after selling 322,482 shares during the period. EMCOR Group makes up approximately 2.4% of Kayne Anderson Rudnick Investment Management LLC’s portfolio, making the stock its biggest holding. Kayne Anderson Rudnick Investment Management LLC owned 5.67% of EMCOR Group worth $972,481,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EME. Ensign Peak Advisors Inc grew its position in EMCOR Group by 50.3% during the second quarter. Ensign Peak Advisors Inc now owns 29,977 shares of the construction company’s stock valued at $10,944,000 after buying an additional 10,030 shares during the period. Thrivent Financial for Lutherans grew its position in shares of EMCOR Group by 11.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 70,593 shares of the construction company’s stock valued at $25,772,000 after acquiring an additional 7,216 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $3,797,000. AE Wealth Management LLC increased its stake in shares of EMCOR Group by 183.8% during the 2nd quarter. AE Wealth Management LLC now owns 1,629 shares of the construction company’s stock worth $595,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of EMCOR Group in the 2nd quarter worth approximately $16,760,000. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on EME. StockNews.com downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. DA Davidson lifted their price objective on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

EMCOR Group Trading Up 1.3 %

Shares of EME stock opened at $435.69 on Friday. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $437.10. The stock has a market capitalization of $20.48 billion, a P/E ratio of 28.74 and a beta of 1.07. The firm’s 50 day moving average is $373.10 and its 200 day moving average is $366.11.

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

EMCOR Group Announces Dividend

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

EMCOR Group announced that its board has authorized a stock repurchase plan on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

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

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.