Allianz Asset Management GmbH Purchases 43,801 Shares of EMCOR Group, Inc. (NYSE:EME)

Allianz Asset Management GmbH grew its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,744 shares of the construction company's stock after purchasing an additional 43,801 shares during the period. Allianz Asset Management GmbH owned about 0.59% of EMCOR Group worth $97,488,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EME. BankPlus Trust Department lifted its stake in EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock worth $27,000 after acquiring an additional 48 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in EMCOR Group in the 1st quarter worth about $28,000. Continuum Advisory LLC lifted its stake in EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after acquiring an additional 29 shares in the last quarter. Dogwood Wealth Management LLC purchased a new stake in EMCOR Group in the 4th quarter worth about $40,000. Finally, Summit Securities Group LLC purchased a new stake in EMCOR Group in the 4th quarter worth about $45,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 8.3%

Shares of NYSE EME traded up $47.90 during mid-day trading on Friday, reaching $626.70. 269,981 shares of the company traded hands, compared to its average volume of 493,919. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market cap of $28.05 billion, a PE ratio of 27.69 and a beta of 1.24. The company's fifty day moving average is $507.85 and its two-hundred day moving average is $450.72. EMCOR Group, Inc. has a fifty-two week low of $319.49 and a fifty-two week high of $626.72.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating analysts' consensus estimates of $4.57 by $0.84. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The business 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 firm posted $4.17 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.16%. EMCOR Group's payout ratio is 4.42%.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director owned 7,094 shares in the company, valued at approximately $2,928,616.02. This trade represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction that occurred 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 owned 208,989 shares of the company's stock, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus upped their target price on EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Jefferies Financial Group assumed coverage on EMCOR Group in a research report on Friday, June 27th. They issued a "buy" rating on the stock. UBS Group upped their target price on EMCOR Group from $570.00 to $715.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird assumed coverage on EMCOR Group in a research report on Friday, June 27th. They issued an "outperform" rating and a $560.00 target price on the stock. Finally, Hovde Group raised EMCOR Group to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $556.17.

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.