EMCOR Group, Inc. (NYSE:EME) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in EMCOR Group, Inc. by 1.6%, holding 129,700 shares worth approximately $47.9 million after selling 2,100 shares in the first quarter.
• Brokerages have set a consensus rating of "Moderate Buy" for EMCOR Group, with an average target price of $594.50 and several analysts issuing a "strong-buy" rating.
• EMCOR Group reported strong earnings with an EPS of $6.72 for the last quarter, exceeding estimates and reflecting a year-over-year revenue increase of 17.4%.

Swiss National Bank lowered its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,700 shares of the construction company's stock after selling 2,100 shares during the period. Swiss National Bank owned approximately 0.29% of EMCOR Group worth $47,941,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in EMCOR Group by 44.2% in the fourth quarter. Bank of Montreal Can now owns 17,681 shares of the construction company's stock worth $8,025,000 after acquiring an additional 5,420 shares during the last quarter. Raymond James Financial Inc. purchased a new position in EMCOR Group in the fourth quarter worth approximately $42,380,000. Bessemer Group Inc. lifted its stake in EMCOR Group by 18.4% in the fourth quarter. Bessemer Group Inc. now owns 1,550 shares of the construction company's stock worth $703,000 after acquiring an additional 241 shares during the last quarter. Sterling Capital Management LLC lifted its stake in EMCOR Group by 26.3% in the fourth quarter. Sterling Capital Management LLC now owns 3,796 shares of the construction company's stock worth $1,723,000 after acquiring an additional 790 shares during the last quarter. Finally, Qtron Investments LLC lifted its stake in EMCOR Group by 2.0% in the fourth quarter. Qtron Investments LLC now owns 2,192 shares of the construction company's stock worth $995,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded down $6.86 during trading on Thursday, reaching $609.85. The company's stock had a trading volume of 170,000 shares, compared to its average volume of 487,689. The company has a 50-day moving average price of $551.52 and a two-hundred day moving average price of $462.91. The firm has a market cap of $27.30 billion, a PE ratio of 25.31 and a beta of 1.27. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $667.64. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, beating analysts' consensus estimates of $5.68 by $1.04. The business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.10 billion. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The company's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.25 EPS. On average, analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 15th. EMCOR Group's payout ratio is currently 4.15%.

Wall Street Analysts Forecast Growth

EME has been the subject of a number of recent research reports. TD Securities initiated coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. The Goldman Sachs Group boosted their price objective on shares of EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a research report on Tuesday, July 8th. Robert W. Baird began coverage on shares of EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating and a $560.00 price objective for the company. Finally, Hovde Group upgraded shares of EMCOR Group to a "hold" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $594.50.

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.