US Bancorp DE Cuts Position in EMCOR Group, Inc. (NYSE:EME)

Key Points

• US Bancorp DE has reduced its stake in EMCOR Group, Inc. by 5.6%, holding 12,331 shares worth approximately $4.56 million as of its latest SEC filing.
• Analysts are optimistic about EMCOR Group, with a series of upgrades; target prices have been raised, including Stifel Nicolaus' increase from $503.00 to $597.00, and DA Davidson's raise to $725.00.
• EMCOR Group reported earnings of $6.72 per share for the latest quarter, surpassing expectations and reflecting a 17.4% increase in revenue year-over-year.

US Bancorp DE lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,331 shares of the construction company's stock after selling 738 shares during the period. US Bancorp DE's holdings in EMCOR Group were worth $4,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of 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 period. Select Equity Group L.P. increased its position in shares of EMCOR Group by 1.6% in the 4th quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after acquiring an additional 16,563 shares during the period. Northern Trust Corp increased its position in shares of EMCOR Group by 22.9% in the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock valued at $250,046,000 after acquiring an additional 102,738 shares during the period. Pacer Advisors Inc. increased its position in shares of 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 period. Finally, First Trust Advisors LP increased its position in shares of 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 period. Hedge funds and other institutional investors own 92.59% of the company's stock.

EMCOR Group Price Performance

Shares of EME stock traded up $0.45 during mid-day trading on Friday, hitting $617.96. 321,421 shares of the stock were exchanged, compared to its average volume of 379,371. The firm has a fifty day moving average of $542.98 and a 200 day moving average of $461.08. The company has a market cap of $27.66 billion, a PE ratio of 25.64 and a beta of 1.27. 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 52-week low of $320.89 and a 52-week high of $667.64.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.68 by $1.04. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.10 billion. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The business's revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.25 EPS. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group's dividend payout ratio (DPR) is currently 4.15%.

Analysts Set New Price Targets

Several brokerages have weighed in on EME. Jefferies Financial Group began coverage on EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating on the stock. TD Securities began coverage on EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating on the stock. William Blair initiated coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating on the stock. Stifel Nicolaus increased their target price on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, UBS Group set a $750.00 target price on shares of EMCOR Group and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $594.50.

About EMCOR Group

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.