Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Zurcher Kantonalbank increased its holdings in EMCOR Group by 11.0% in the first quarter, owning 56,183 shares valued at $20.77 million by the reporting period's end.
• EMCOR Group reported earnings of $5.41 per share, exceeding analysts' expectations of $4.57, along with quarterly revenues of $3.87 billion, up 12.7% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, with an annualized yield of 0.16%, set to be paid on July 31st.

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,183 shares of the construction company's stock after acquiring an additional 5,568 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.13% of EMCOR Group worth $20,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Private Trust Co. NA increased its position in shares of EMCOR Group by 28.6% during the 1st quarter. Private Trust Co. NA now owns 279 shares of the construction company's stock valued at $103,000 after purchasing an additional 62 shares during the last quarter. Janney Montgomery Scott LLC grew its position in EMCOR Group by 20.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock valued at $7,317,000 after acquiring an additional 3,407 shares during the last quarter. Redwood Investment Management LLC bought a new position in EMCOR Group in the 4th quarter valued at $1,417,000. Cambridge Investment Research Advisors Inc. grew its position in EMCOR Group by 146.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,700 shares of the construction company's stock valued at $3,955,000 after acquiring an additional 6,361 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in EMCOR Group by 17.5% in the 1st quarter. Fifth Third Bancorp now owns 844 shares of the construction company's stock valued at $312,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Down 0.5%

Shares of NYSE EME traded down $3.26 during mid-day trading on Friday, reaching $624.23. 274,230 shares of the company were exchanged, compared to its average volume of 497,320. The firm has a 50-day moving average of $524.51 and a 200 day moving average of $456.34. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $667.64. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 27.65 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data 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 return on equity of 37.12% and a net margin of 7.00%. The firm had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same period last year, the business posted $5.25 earnings per share. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Tuesday, July 15th. EMCOR Group's dividend payout ratio (DPR) is currently 4.42%.

Wall Street Analyst Weigh In

Several equities analysts have commented on EME shares. Jefferies Financial Group started coverage on EMCOR Group in a research report on Friday, June 27th. They issued a "buy" rating on the stock. TD Securities assumed coverage on EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating on the stock. Baird R W raised EMCOR Group to a "strong-buy" rating in a research report on Friday, June 27th. William Blair assumed coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating on the stock. Finally, Robert W. Baird assumed coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $581.40.

Insiders Place Their Bets

In related news, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the transaction, the chief executive officer directly owned 208,989 shares in the company, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.83% of the company's stock.

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.