Mackenzie Financial Corp Decreases Stake in EMCOR Group, Inc. (NYSE:EME)

Mackenzie Financial Corp trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,525 shares of the construction company's stock after selling 2,236 shares during the period. Mackenzie Financial Corp's holdings in EMCOR Group were worth $1,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Continuum Advisory LLC raised its holdings in shares of EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock valued at $38,000 after buying an additional 29 shares during the period. Summit Securities Group LLC purchased a new stake in EMCOR Group during the fourth quarter worth $45,000. True Wealth Design LLC increased its stake in shares of EMCOR Group by 24.3% during the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company's stock worth $60,000 after purchasing an additional 26 shares in the last quarter. Altshuler Shaham Ltd increased its stake in EMCOR Group by 2,063.6% in the fourth quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock valued at $108,000 after purchasing an additional 227 shares during the last quarter. Finally, GeoWealth Management LLC raised its position in shares of EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock worth $115,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Price Performance

Shares of EME stock traded down $2.04 on Monday, hitting $469.82. 330,859 shares of the company's stock were exchanged, compared to its average volume of 455,440. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The stock has a market cap of $21.03 billion, a P/E ratio of 23.86 and a beta of 1.18. The company has a 50 day moving average of $413.49 and a 200 day moving average of $441.37.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business earned $4.17 earnings per share. The business's quarterly revenue was up 12.7% compared to the same quarter last year. Sell-side analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.

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 given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. EMCOR Group's payout ratio is 4.42%.

Insider Transactions at EMCOR Group

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the 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 completion of the sale, the chief executive officer now owns 208,989 shares of the company's stock, valued at $91,125,473.67. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,197 shares of company stock worth $3,905,748. Insiders own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

EME has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target 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. Wall Street Zen downgraded shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, EMCOR Group has a consensus rating of "Moderate Buy" and an average price target of $494.50.

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.