Mackenzie Financial Corp Has $1.97 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Mackenzie Financial Corp increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 80.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,389 shares of the construction company’s stock after buying an additional 2,396 shares during the quarter. Mackenzie Financial Corp’s holdings in EMCOR Group were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EME. Matrix Trust Co acquired a new stake in shares of EMCOR Group during the 2nd quarter worth $26,000. Proffitt & Goodson Inc. acquired a new position in shares of EMCOR Group in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in shares of EMCOR Group during the 2nd quarter worth approximately $31,000. Finally, Independence Bank of Kentucky bought a new position in EMCOR Group in the first quarter valued at approximately $33,000. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on EME shares. DA Davidson upped their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 28th.

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total value of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $429.75 on Thursday. The company’s 50 day moving average price is $382.62 and its two-hundred day moving average price is $372.37. The firm has a market capitalization of $20.20 billion, a P/E ratio of 28.35 and a beta of 1.07. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $443.96.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the business posted $2.95 EPS. EMCOR Group’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts expect that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group declared that its Board of Directors has initiated a stock buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are 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.