Invesco Ltd. Cuts Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Invesco Ltd. has reduced its stake in EMCOR Group by 7.4%, owning approximately 2.73% of the company after selling 98,144 shares in the first quarter.
• EMCOR Group reported better-than-expected earnings for the last quarter, with an EPS of $6.72, surpassing analysts' expectations of $5.68.
• The stock has received mixed ratings from analysts, with targets ranging from $384.00 to $750.00, indicating varied sentiment towards its future performance.

Invesco Ltd. cut its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,220,350 shares of the construction company's stock after selling 98,144 shares during the quarter. Invesco Ltd. owned 2.73% of EMCOR Group worth $451,078,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BankPlus Trust Department raised its position in shares of EMCOR Group by 200.0% during the first quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock worth $27,000 after acquiring an additional 48 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of EMCOR Group during the first quarter worth about $28,000. Hazlett Burt & Watson Inc. bought a new position in shares of EMCOR Group during the first quarter worth about $30,000. Pandora Wealth Inc. bought a new position in shares of EMCOR Group during the first quarter worth about $37,000. Finally, Continuum Advisory LLC raised its position in shares of EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after acquiring an additional 29 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. 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 objective for the company. Wall Street Zen upgraded EMCOR Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. William Blair assumed coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating for the company. The Goldman Sachs Group raised their price objective on EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a research report on Tuesday, July 8th. Finally, Hovde Group raised EMCOR Group to a "hold" rating in a research note on Friday, June 27th. One research 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $594.50.

EMCOR Group Stock Down 2.5%

EMCOR Group stock traded down $15.81 during mid-day trading on Wednesday, reaching $616.76. The stock had a trading volume of 364,017 shares, compared to its average volume of 385,718. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.18. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $667.64. The stock's 50-day simple moving average is $551.52 and its 200-day simple moving average is $462.91. The firm has a market capitalization of $27.61 billion, a PE ratio of 25.59 and a beta of 1.27.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, beating analysts' consensus estimates of $5.68 by $1.04. EMCOR Group had a return on equity of 38.01% and a net margin of 7.07%. The firm had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.10 billion. During the same quarter last year, the firm 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, sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. EMCOR Group's payout ratio is presently 4.15%.

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.