Principal Financial Group Inc. Cuts Stock Position in EMCOR Group, Inc. (NYSE:EME)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its stake in EMCOR Group by 28.0% during the fourth 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 in the last quarter. Select Equity Group L.P. increased its holdings 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 raised its position in shares of EMCOR Group by 2.6% during the 4th 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 in the last quarter. Norges Bank bought a new position in shares of EMCOR Group in the 4th quarter valued at about $299,855,000. Finally, Northern Trust Corp grew its position in EMCOR Group by 22.9% in the fourth quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after acquiring an additional 102,738 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 947 shares of the company's 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 completion of the sale, the director owned 7,094 shares of the company's stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Guzzi sold 7,000 shares of the business's 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 $91,125,473.67. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group initiated coverage on EMCOR Group in a research report on Friday, June 13th. They set a "buy" rating and a $570.00 price objective on the stock. Hovde Group upgraded EMCOR Group to a "hold" rating in a report on Friday, June 27th. Jefferies Financial Group started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating on the stock. Baird R W raised shares of EMCOR Group to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Robert W. Baird began coverage on shares of EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $518.00.

EMCOR Group Trading Up 0.6%

EME stock traded up $3.20 during mid-day trading on Monday, reaching $550.42. The company had a trading volume of 480,997 shares, compared to its average volume of 450,625. The company has a market capitalization of $24.64 billion, a PE ratio of 24.32 and a beta of 1.24. The firm has a 50 day moving average of $474.05 and a 200 day moving average of $441.49. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $553.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.16 and a quick ratio of 1.14.

EMCOR Group (NYSE:EME - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 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 company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period last year, the business posted $4.17 EPS. EMCOR Group's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, July 15th. EMCOR Group's payout ratio is 4.42%.

EMCOR Group 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.