Prudential PLC Buys Shares of 939 EMCOR Group, Inc. (NYSE:EME)

Prudential PLC acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 939 shares of the construction company’s stock, valued at approximately $343,000.

Other large investors also recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of EMCOR Group in the 2nd quarter valued at approximately $26,000. Proffitt & Goodson Inc. acquired a new position in EMCOR Group during the second quarter worth $27,000. V Square Quantitative Management LLC acquired a new stake in shares of EMCOR Group in the first quarter valued at $28,000. Innealta Capital LLC acquired a new position in EMCOR Group during the 2nd quarter worth about $29,000. Finally, ORG Partners LLC purchased a new position in EMCOR Group during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Up 2.0 %

Shares of EME stock opened at $396.25 on Friday. EMCOR Group, Inc. has a 12-month low of $191.50 and a 12-month high of $401.98. The stock has a 50 day simple moving average of $368.41 and a 200-day simple moving average of $362.32. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 26.14 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company posted $2.95 EPS. On average, equities analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

EMCOR Group announced that its Board of Directors has authorized a stock buyback plan on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Separately, DA Davidson upped their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the sale, the director now owns 8,637 shares of the company’s stock, valued at $3,202,513.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

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.