EMCOR Group, Inc. (NYSE:EME) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,267 shares of the construction company's stock after selling 5,395 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of EMCOR Group worth $40,758,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in 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 purchasing an additional 288,765 shares during the last quarter. Select Equity Group L.P. raised its position in shares of EMCOR Group by 1.6% in the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after buying an additional 16,563 shares during the last quarter. Geode Capital Management LLC raised its position in shares of EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after buying an additional 25,502 shares during the last quarter. Norges Bank acquired a new stake in EMCOR Group in the 4th quarter valued at about $299,855,000. Finally, Northern Trust Corp raised its holdings in 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 last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 7,000 shares of the business's stock in a transaction 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 $91,125,473.67. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction 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 transaction, the director directly owned 7,094 shares of the company's stock, valued at $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. Insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on EME shares. Stifel Nicolaus cut their price target on EMCOR Group from $514.00 to $503.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group assumed coverage on EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. William Blair assumed coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating for the company. Baird R W upgraded shares of EMCOR Group to a "strong-buy" rating in a research report on Friday, June 27th. Finally, TD Securities started coverage on shares of EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $518.00.

EMCOR Group Trading Down 2.2%

EMCOR Group stock traded down $11.89 during trading on Tuesday, hitting $539.25. The company had a trading volume of 53,704 shares, compared to its average volume of 510,878. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $553.97. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.08. The company's 50 day simple moving average is $476.84 and its 200-day simple moving average is $441.92. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 23.83 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share 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 during the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the firm posted $4.17 earnings per share. The company's revenue was up 12.7% on a year-over-year basis. As a group, analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Tuesday, July 15th. EMCOR Group's dividend payout ratio (DPR) is currently 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.