Prudential PLC Grows Stake in EMCOR Group, Inc. (NYSE:EME)

Prudential PLC boosted its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 193.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,754 shares of the construction company’s stock after purchasing an additional 12,365 shares during the quarter. Prudential PLC’s holdings in EMCOR Group were worth $6,932,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its position in shares of EMCOR Group by 1.6% during the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company’s stock valued at $482,951,000 after buying an additional 16,563 shares during the last quarter. Northern Trust Corp boosted its position in shares of EMCOR Group by 22.9% during the fourth quarter. Northern Trust Corp now owns 550,883 shares of the construction company’s stock worth $250,046,000 after acquiring an additional 102,738 shares during the last quarter. Pacer Advisors Inc. grew its stake in EMCOR Group by 3,878.2% during the first quarter. Pacer Advisors Inc. now owns 534,585 shares of the construction company’s stock valued at $197,599,000 after acquiring an additional 521,147 shares in the last quarter. First Trust Advisors LP increased its holdings in EMCOR Group by 35.2% in 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 last quarter. Finally, AQR Capital Management LLC increased its holdings in EMCOR Group by 13.6% in the 4th quarter. AQR Capital Management LLC now owns 489,825 shares of the construction company’s stock valued at $222,332,000 after acquiring an additional 58,483 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $616.76 on Thursday. The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 25.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.18. The stock has a 50 day moving average price of $551.52 and a 200-day moving average price of $462.91. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $667.64.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, topping the consensus estimate of $5.68 by $1.04. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the firm earned $5.25 earnings per share. EMCOR Group’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 15th. EMCOR Group’s dividend payout ratio is 4.15%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EME shares. Robert W. Baird assumed coverage on shares of EMCOR Group in a report on Friday, June 27th. They set an “outperform” rating and a $560.00 price objective for the company. Wall Street Zen raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. The Goldman Sachs Group raised their price target on EMCOR Group from $384.00 to $435.00 and gave the company a “sell” rating in a report on Tuesday, July 8th. Jefferies Financial Group assumed coverage on EMCOR Group in a report on Friday, June 27th. They set a “buy” rating on the stock. Finally, DA Davidson raised their target price on shares of EMCOR Group from $515.00 to $725.00 and gave the company a “buy” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, EMCOR Group has an average rating of “Moderate Buy” and an average target price of $594.50.

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.