Prudential PLC Purchases 12,365 Shares of EMCOR Group, Inc. (NYSE:EME)

Key Points

• Prudential PLC significantly increased its stake in EMCOR Group by 193.5%, acquiring an additional 12,365 shares in the first quarter, bringing its total holdings to 18,754 shares valued at approximately $6.93 million.
• Multiple institutional investors have boosted their investments in EMCOR, including Pacer Advisors Inc. which increased its stake by an extraordinary 3,878.2%.
• EMCOR Group recently reported earnings of $6.72 per share for the last quarter, surpassing analyst expectations and reflecting a robust 17.4% revenue growth year-over-year.

Prudential PLC grew its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 193.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,754 shares of the construction company's stock after purchasing an additional 12,365 shares during the quarter. Prudential PLC's holdings in EMCOR Group were worth $6,932,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. raised its position in shares of EMCOR Group by 4.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 14,672 shares of the construction company's stock worth $5,426,000 after acquiring an additional 597 shares during the last quarter. Rossmore Private Capital bought a new position in shares of EMCOR Group during the first quarter worth about $462,000. Public Sector Pension Investment Board raised its position in shares of EMCOR Group by 124.0% during the first quarter. Public Sector Pension Investment Board now owns 20,158 shares of the construction company's stock worth $7,451,000 after acquiring an additional 11,158 shares during the last quarter. Eagle Global Advisors LLC raised its position in shares of EMCOR Group by 66.7% during the first quarter. Eagle Global Advisors LLC now owns 1,000 shares of the construction company's stock worth $370,000 after acquiring an additional 400 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in EMCOR Group by 14.0% in the first quarter. Motley Fool Asset Management LLC now owns 1,182 shares of the construction company's stock worth $437,000 after purchasing an additional 145 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EME. Stifel Nicolaus lifted their target price on EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a report on Friday, July 11th. William Blair began coverage on EMCOR Group in a report on Friday, June 27th. They issued an "outperform" rating for the company. Wall Street Zen upgraded EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Northcoast Research downgraded EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 target price for the company. in a report on Thursday, August 7th. Finally, Robert W. Baird started coverage on EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $594.50.

EMCOR Group Stock Performance

Shares of EME traded down $4.62 during mid-day trading on Friday, hitting $605.13. The stock had a trading volume of 233,189 shares, compared to its average volume of 388,565. The firm has a market cap of $27.09 billion, a P/E ratio of 25.11 and a beta of 1.27. The business has a fifty day moving average price of $556.32 and a 200-day moving average price of $465.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.15. 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 released its quarterly earnings data on Thursday, July 31st. The construction company reported $6.72 earnings per share (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 company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the company posted $5.25 EPS. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, July 15th. EMCOR Group's dividend payout ratio is currently 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.