Prudential PLC Acquires New Holdings in EMCOR Group, Inc. (NYSE:EME)

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

Several other institutional investors and hedge funds have also made changes to their positions in EME. Matrix Trust Co bought a new position in EMCOR Group during the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. acquired a new stake in shares of EMCOR Group in the second quarter valued at $27,000. V Square Quantitative Management LLC bought a new stake in EMCOR Group in the first quarter worth about $28,000. Innealta Capital LLC acquired a new stake in EMCOR Group in the 2nd quarter valued at about $29,000. Finally, ORG Partners LLC bought a new position in shares of EMCOR Group during the 2nd quarter valued at about $31,000. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EMCOR Group

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

Wall Street Analyst Weigh In

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

EMCOR Group Trading Up 2.0 %

EME stock opened at $396.25 on Friday. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $401.98. The firm has a 50-day moving average of $368.41 and a two-hundred day moving average of $362.32. The firm has a market capitalization of $18.49 billion, a PE ratio of 26.14 and a beta of 1.07.

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

EMCOR Group declared that its Board of Directors has approved a share buyback plan on Friday, June 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

EMCOR Group Announces Dividend

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

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.