Pacer Advisors Inc. Acquires 521,147 Shares of EMCOR Group, Inc. (NYSE:EME)

Key Points

• Pacer Advisors Inc. increased its stake in EMCOR Group, Inc. by 3,878.2% in Q1, acquiring 521,147 shares to hold approximately 1.19% of the company, valued at $197.6 million.
• Several other institutional investors have also boosted their positions in EMCOR, with a total of 92.59% of the stock currently held by institutions.
• EMCOR Group declared a quarterly dividend of $0.25 per share, expected to yield 0.17%, with the ex-dividend date set for July 15th.

Pacer Advisors Inc. raised its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 3,878.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 534,585 shares of the construction company's stock after buying an additional 521,147 shares during the quarter. Pacer Advisors Inc. owned about 1.19% of EMCOR Group worth $197,599,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Invesco Ltd. grew 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 worth $598,465,000 after buying an additional 288,765 shares during the last quarter. Select Equity Group L.P. grew 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 worth $482,951,000 after buying an additional 16,563 shares during the last quarter. Geode Capital Management LLC grew its position in shares of EMCOR Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock worth $463,320,000 after buying an additional 25,502 shares during the last quarter. Norges Bank bought a new stake in shares of EMCOR Group in the 4th quarter worth approximately $299,855,000. Finally, Northern Trust Corp grew 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 worth $250,046,000 after buying an additional 102,738 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of brokerages have issued reports on EME. The Goldman Sachs Group lifted their price objective on EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a research note on Tuesday, July 8th. Baird R W upgraded EMCOR Group to a "strong-buy" rating in a research note on Friday, June 27th. Stifel Nicolaus boosted their price target on EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. William Blair started coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating for the company. Finally, Robert W. Baird started coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $532.00.

EMCOR Group Stock Performance

NYSE:EME opened at $578.56 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $580.48. The stock has a 50-day moving average price of $507.85 and a 200 day moving average price of $450.72. The stock has a market capitalization of $25.90 billion, a P/E ratio of 25.57 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.57 by $0.84. EMCOR Group had a return on equity of 37.12% and a net margin of 7.00%. The firm had revenue of $3.87 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter last year, the business posted $4.17 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Tuesday, July 15th. EMCOR Group's payout ratio is presently 4.42%.

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.

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