Clark Capital Management Group Inc. Has $95.08 Million Holdings in EMCOR Group, Inc. (NYSE:EME)

Clark Capital Management Group Inc. cut its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 209,476 shares of the construction company's stock after selling 20,354 shares during the period. Clark Capital Management Group Inc. owned approximately 0.46% of EMCOR Group worth $95,081,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Invesco Ltd. boosted its position in shares of EMCOR Group by 28.0% in the fourth quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock worth $598,465,000 after buying an additional 288,765 shares during the period. Geode Capital Management LLC grew its stake in EMCOR Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after acquiring an additional 25,502 shares in the last quarter. Norges Bank purchased a new stake in shares of EMCOR Group in the fourth quarter worth approximately $299,855,000. Northern Trust Corp lifted its position in shares of EMCOR Group by 22.9% in the fourth quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after purchasing an additional 102,738 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of EMCOR Group by 35.2% during the fourth quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after purchasing an additional 129,186 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EME has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $494.50.

Insiders Place Their Bets

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group 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 sale, the chief accounting officer now directly 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 link. Also, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. This trade represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,197 shares of company stock worth $3,905,748 in the last ninety days. Insiders own 0.83% of the company's stock.

EMCOR Group Price Performance

Shares of EME stock traded down $1.03 on Friday, hitting $439.21. The company's stock had a trading volume of 219,888 shares, compared to its average volume of 467,251. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 22.31 and a beta of 1.18. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $545.30. The firm's fifty day moving average price is $389.79 and its 200-day moving average price is $442.18.

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

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is presently 4.42%.

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

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.