ING Groep NV Purchases Shares of 8,500 EMCOR Group, Inc. (NYSE:EME)

Key Points

• ING Groep NV purchased 8,500 shares of EMCOR Group, valued at approximately $3.14 million, during the first quarter, indicating growing institutional interest in the company.
• EMCOR Group reported robust quarterly earnings, with EPS of $6.72, exceeding analysts' estimates and showcasing a revenue increase of 17.4% year-over-year.
• A recent dividend of $0.25 was declared, providing a yield of 0.2% and reflecting the company's commitment to returning value to shareholders.

ING Groep NV acquired a new stake in EMCOR Group, Inc. (NYSE:EME - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,500 shares of the construction company's stock, valued at approximately $3,142,000.

A number of other large investors have also recently added to or reduced their stakes in EME. Pacer Advisors Inc. grew its stake in EMCOR Group by 3,878.2% in the 1st 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 during the last quarter. GAMMA Investing LLC grew its stake in EMCOR Group by 49,775.5% in the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock valued at $138,266,000 after acquiring an additional 373,316 shares during the last quarter. Invesco Ltd. grew its stake in EMCOR Group by 28.0% in 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 last quarter. Ameriprise Financial Inc. boosted its stake in shares of EMCOR Group by 94.2% during the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock worth $139,349,000 after purchasing an additional 148,915 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of EMCOR Group by 35.2% during the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock worth $225,332,000 after purchasing an additional 129,186 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on EME. Jefferies Financial Group began coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating on the stock. Wall Street Zen raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. William Blair began coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set an "outperform" rating on the stock. Northcoast Research cut shares of EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 price target on the stock. in a research note on Thursday. Finally, Hovde Group raised shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $594.50.

EMCOR Group Trading Up 0.1%

Shares of EME traded up $0.45 during mid-day trading on Friday, hitting $617.96. The company had a trading volume of 321,421 shares, compared to its average volume of 379,371. The business's 50-day simple moving average is $542.98 and its 200-day simple moving average is $461.08. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $667.64. The stock has a market cap of $27.66 billion, a PE ratio of 25.64 and a beta of 1.27.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share (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 business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.10 billion. During the same period last year, the company earned $5.25 earnings per share. The company's quarterly revenue was up 17.4% on a year-over-year basis. Sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $0.25 per share. 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 payout ratio is 4.15%.

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.