Burgundy Asset Management Ltd. Buys 7,799 Shares of EMCOR Group, Inc. (NYSE:EME)

Burgundy Asset Management Ltd. grew its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 482,453 shares of the construction company's stock after buying an additional 7,799 shares during the period. EMCOR Group makes up about 2.2% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 9th largest holding. Burgundy Asset Management Ltd. owned about 1.05% of EMCOR Group worth $218,985,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EME. Continuum Advisory LLC boosted its position in shares of EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after acquiring an additional 29 shares during the last quarter. Summit Securities Group LLC purchased a new position in EMCOR Group in the 4th quarter worth about $45,000. SJS Investment Consulting Inc. increased its stake in EMCOR Group by 494.7% in the 4th quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after buying an additional 94 shares during the period. True Wealth Design LLC increased its position in EMCOR Group by 24.3% during the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock valued at $60,000 after purchasing an additional 26 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in EMCOR Group by 14.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock valued at $90,000 after purchasing an additional 25 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on EME. Wall Street Zen cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus cut their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, EMCOR Group has an average rating of "Moderate Buy" and a consensus target price of $494.50.

EMCOR Group Price Performance

Shares of EME stock traded up $12.40 during trading hours on Tuesday, reaching $475.72. 339,216 shares of the stock were exchanged, compared to its average volume of 471,148. The firm has a market capitalization of $21.29 billion, a P/E ratio of 24.16 and a beta of 1.18. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30. The business's fifty day moving average is $408.20 and its two-hundred day moving average is $442.41.

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

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's payout ratio is 4.42%.

EMCOR Group announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the transaction, the director now directly owns 7,094 shares in the company, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $436.03, for a total value of $3,052,210.00. Following the transaction, the chief executive officer now owns 208,989 shares in the company, valued at $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,197 shares of company stock valued at $3,905,748 in the last 90 days. 0.83% of the stock is currently owned by insiders.

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.