Driehaus Capital Management LLC Decreases Stock Position in EMCOR Group, Inc. (NYSE:EME)

Driehaus Capital Management LLC cut its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 47.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,352 shares of the construction company's stock after selling 61,634 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.15% of EMCOR Group worth $31,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC lifted its stake in EMCOR Group by 2.5% in the 4th quarter. Perigon Wealth Management LLC now owns 778 shares of the construction company's stock worth $353,000 after purchasing an additional 19 shares in the last quarter. Adirondack Trust Co. lifted its holdings in EMCOR Group by 5.0% during the 4th quarter. Adirondack Trust Co. now owns 420 shares of the construction company's stock worth $191,000 after buying an additional 20 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of EMCOR Group by 1.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the construction company's stock worth $521,000 after buying an additional 21 shares in the last quarter. Petra Financial Advisors Inc. boosted its position in shares of EMCOR Group by 1.4% during the 4th quarter. Petra Financial Advisors Inc. now owns 1,739 shares of the construction company's stock worth $789,000 after acquiring an additional 24 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in 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 acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Stock Down 0.2%

EME stock traded down $0.89 on Wednesday, reaching $471.49. 247,893 shares of the company's stock were exchanged, compared to its average volume of 468,177. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The stock has a fifty day moving average of $393.05 and a 200-day moving average of $442.56. The firm has a market cap of $21.10 billion, a PE ratio of 23.95 and a beta of 1.18.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $4.17 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's dividend payout ratio is currently 4.42%.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly owns 208,989 shares in the company, valued at approximately $91,125,473.67. The trade was a 3.24% 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 the SEC website. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,197 shares of company stock worth $3,905,748. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus dropped their price target on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $494.50.

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.