Fifth Third Bancorp Grows Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Fifth Third Bancorp boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 15.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 977 shares of the construction company’s stock after purchasing an additional 132 shares during the quarter. Fifth Third Bancorp’s holdings in EMCOR Group were worth $357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Matrix Trust Co bought a new position in shares of EMCOR Group during the second quarter worth $26,000. V Square Quantitative Management LLC purchased a new stake in EMCOR Group in the 1st quarter worth $28,000. ORG Partners LLC bought a new position in shares of EMCOR Group during the 2nd quarter valued at about $31,000. Independence Bank of Kentucky purchased a new position in shares of EMCOR Group during the first quarter valued at about $33,000. Finally, Evermay Wealth Management LLC purchased a new position in shares of EMCOR Group during the fourth quarter valued at about $39,000. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at EMCOR Group

In other news, Director Carol P. Lowe sold 1,245 shares of EMCOR Group stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $374.23, for a total value of $465,916.35. Following the completion of the transaction, the director now owns 16,807 shares in the company, valued at approximately $6,289,683.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the transaction, the director now directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carol P. Lowe sold 1,245 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $374.23, for a total transaction of $465,916.35. Following the completion of the sale, the director now directly owns 16,807 shares in the company, valued at $6,289,683.61. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

EME stock opened at $382.30 on Friday. The firm has a fifty day moving average price of $367.83 and a 200 day moving average price of $350.09. EMCOR Group, Inc. has a fifty-two week low of $191.50 and a fifty-two week high of $401.98. The firm has a market cap of $17.97 billion, a PE ratio of 25.22 and a beta of 1.06.

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

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s payout ratio is currently 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.