Vanguard Group Inc. Reduces Stock Position in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Vanguard Group Inc. reduced its holdings in EMCOR Group by 1.8%, owning 4,636,552 shares valued at $1.71 billion as of the latest SEC filing.
• EMCOR Group reported quarterly earnings of $6.72 EPS, exceeding analyst expectations, along with a revenue of $4.30 billion for the quarter.
• The company recently announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.2% with a dividend payout ratio of 4.15%.

Vanguard Group Inc. lowered its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,636,552 shares of the construction company's stock after selling 82,946 shares during the period. Vanguard Group Inc. owned approximately 10.36% of EMCOR Group worth $1,713,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BankPlus Trust Department raised its holdings in shares of EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock valued at $27,000 after acquiring an additional 48 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of EMCOR Group in the first quarter worth about $28,000. Hazlett Burt & Watson Inc. purchased a new position in EMCOR Group in the 1st quarter worth approximately $30,000. Continuum Advisory LLC increased its stake in EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after purchasing an additional 29 shares during the period. Finally, Dogwood Wealth Management LLC purchased a new position in EMCOR Group in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Performance

EME stock traded up $18.83 during trading on Tuesday, hitting $633.52. 347,418 shares of the company traded hands, compared to its average volume of 385,426. The stock's 50-day simple moving average is $548.85 and its 200 day simple moving average is $461.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.15. The company has a market cap of $28.36 billion, a PE ratio of 26.29 and a beta of 1.27. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $667.64.

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

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group's dividend payout ratio is currently 4.15%.

Wall Street Analyst Weigh In

EME has been the subject of several research analyst reports. UBS Group set a $750.00 price objective on shares of EMCOR Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. William Blair assumed coverage on EMCOR Group in a research report on Friday, June 27th. They set an "outperform" rating for the company. TD Securities started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating on the stock. Wall Street Zen raised EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Northcoast Research lowered shares of EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 target price for the company. in a research note on Thursday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $594.50.

About EMCOR Group

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.