EMCOR Group, Inc. $EME Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,100 shares of the construction company’s stock after selling 8,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of EMCOR Group worth $29,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of EMCOR Group in the second quarter worth $995,000. Pinnbrook Capital Management LP bought a new position in EMCOR Group during the 2nd quarter valued at $1,510,000. Nordea Investment Management AB grew its holdings in EMCOR Group by 63.8% during the 2nd quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock worth $210,278,000 after acquiring an additional 153,948 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of EMCOR Group by 4.4% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 21,345 shares of the construction company’s stock worth $11,417,000 after purchasing an additional 894 shares during the last quarter. Finally, Capital Fund Management S.A. increased its position in shares of EMCOR Group by 17.1% in the 2nd quarter. Capital Fund Management S.A. now owns 38,710 shares of the construction company’s stock worth $20,706,000 after purchasing an additional 5,658 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Down 1.0%

NYSE EME opened at $617.20 on Wednesday. The stock’s 50 day moving average is $638.08 and its 200 day moving average is $616.68. The firm has a market capitalization of $27.63 billion, a PE ratio of 24.82 and a beta of 1.17. EMCOR Group, Inc. has a twelve month low of $320.89 and a twelve month high of $778.64.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $6.57. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.27 billion. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.EMCOR Group’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.80 EPS. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, research analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its board has initiated a stock buyback program on Thursday, December 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Wednesday, October 15th were issued a $0.25 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s payout ratio is 4.02%.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of EMCOR Group stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total transaction of $897,316.50. Following the completion of the sale, the director directly owned 6,140 shares in the company, valued at approximately $4,158,130.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. William Blair started coverage on shares of EMCOR Group in a research report on Thursday, September 11th. They set an “outperform” rating on the stock. DA Davidson lifted their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $495.00 to $676.00 in a research report on Tuesday, October 7th. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus boosted their target price on shares of EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $692.83.

EMCOR Group 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.