Cibc World Market Inc. bought a new position in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) during the second quarter, Holdings Channel reports. The fund bought 6,711 shares of the construction company’s stock, valued at approximately $5,569,000.
A number of other hedge funds have also recently made changes to their positions in the company. North Dakota State Investment Board purchased a new stake in EMCOR Group during the fourth quarter valued at about $928,000. Thrivent Financial for Lutherans boosted its holdings in shares of EMCOR Group by 663.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 113,562 shares of the construction company’s stock worth $69,476,000 after purchasing an additional 98,687 shares in the last quarter. Passumpsic Savings Bank purchased a new position in shares of EMCOR Group in the 4th quarter worth about $1,726,000. Chase Investment Counsel Corp boosted its holdings in shares of EMCOR Group by 152.1% in the 4th quarter. Chase Investment Counsel Corp now owns 2,849 shares of the construction company’s stock worth $1,742,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Spectrum Strategic Capital Management LLC bought a new position in shares of EMCOR Group during the 4th quarter valued at about $970,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on EME. Cantor Fitzgerald dropped their target price on EMCOR Group from $1,123.00 to $1,047.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Wall Street Zen upgraded shares of EMCOR Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. DA Davidson set a $1,047.00 price target on shares of EMCOR Group in a research report on Monday, August 10th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Friday, July 17th. Finally, Stifel Nicolaus set a $918.00 price objective on shares of EMCOR Group in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $965.86.
Insider Activity
In other news, Director Carol P. Lowe sold 950 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $844.50, for a total value of $802,275.00. Following the transaction, the director owned 17,278 shares in the company, valued at approximately $14,591,271. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.
EMCOR Group Trading Down 3.4%
EME opened at $739.04 on Wednesday. EMCOR Group, Inc. has a 12 month low of $564.92 and a 12 month high of $951.96. The business’s 50-day moving average price is $793.95 and its 200-day moving average price is $801.30. The company has a market cap of $32.60 billion, a P/E ratio of 22.99 and a beta of 1.14.
EMCOR Group (NYSE:EME – Get Free Report) last issued its earnings results on Thursday, July 30th. The construction company reported $9.06 earnings per share for the quarter, beating the consensus estimate of $7.23 by $1.83. EMCOR Group had a return on equity of 35.49% and a net margin of 7.74%.The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the prior year, the business posted $6.72 EPS. EMCOR Group’s quarterly revenue was up 19.7% compared to the same quarter last year. EMCOR Group has set its FY 2026 guidance at 32.000-33.250 EPS. Equities research analysts forecast that EMCOR Group, Inc. will post 33.04 earnings per share for the current fiscal year.
EMCOR Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, July 15th. EMCOR Group’s dividend payout ratio is 4.98%.
EMCOR Group Company Profile
EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.
EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.
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