Select Equity Group L.P. Boosts Position in EMCOR Group, Inc. (NYSE:EME)

Select Equity Group L.P. lifted its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,064,003 shares of the construction company's stock after purchasing an additional 16,563 shares during the quarter. EMCOR Group comprises approximately 1.9% of Select Equity Group L.P.'s investment portfolio, making the stock its 18th biggest position. Select Equity Group L.P. owned 2.31% of EMCOR Group worth $482,951,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EME. Norges Bank purchased a new position in EMCOR Group during the 4th quarter valued at about $299,855,000. Invesco Ltd. boosted its holdings in EMCOR Group by 28.0% during the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after acquiring an additional 288,765 shares during the period. Ameriprise Financial Inc. boosted its holdings in EMCOR Group by 94.2% during the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock valued at $139,349,000 after acquiring an additional 148,915 shares during the period. First Trust Advisors LP boosted its holdings in EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after acquiring an additional 129,186 shares during the period. Finally, Swedbank AB boosted its holdings in EMCOR Group by 399.4% during the 4th quarter. Swedbank AB now owns 153,443 shares of the construction company's stock valued at $69,648,000 after acquiring an additional 122,716 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

Shares of NYSE EME traded up $2.81 during midday trading on Tuesday, hitting $472.80. 564,764 shares of the company's stock were exchanged, compared to its average volume of 472,269. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The company has a market cap of $21.16 billion, a PE ratio of 24.01 and a beta of 1.18. The firm's fifty day simple moving average is $400.62 and its 200-day simple moving average is $443.36.

EMCOR Group (NYSE:EME - Get Free Report) last issued its 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 business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company earned $4.17 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

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

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's dividend payout ratio (DPR) is 4.42%.

Insiders Place Their Bets

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was 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. The trade was a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 9,197 shares of company stock valued at $3,905,748 over the last quarter. Company insiders own 0.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price objective on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a research note 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.com, EMCOR Group has an average rating of "Moderate Buy" and a consensus target price 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.