EMCOR Group, Inc. $EME Shares Sold by State Street Corp

by · The Markets Daily

State Street Corp lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 4.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,608,497 shares of the construction company’s stock after selling 73,801 shares during the quarter. State Street Corp owned 3.59% of EMCOR Group worth $860,369,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of EME. Nordea Investment Management AB increased its position in shares of EMCOR Group by 63.8% during the second 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 during the last quarter. Pinnbrook Capital Management LP acquired a new stake in EMCOR Group during the 2nd quarter valued at approximately $1,510,000. Nomura Asset Management Co. Ltd. increased its holdings in EMCOR Group by 4.4% during 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. Empirical Finance LLC acquired a new position in shares of EMCOR Group in the 2nd quarter valued at approximately $1,174,000. Finally, Capital Fund Management S.A. boosted its stake in shares of EMCOR Group by 17.1% during the 2nd quarter. Capital Fund Management S.A. now owns 38,710 shares of the construction company’s stock valued at $20,706,000 after buying an additional 5,658 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Transactions at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 6,140 shares in the company, valued at $4,158,130.80. The trade was a 17.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EME has been the subject of a number of research analyst reports. William Blair began coverage on shares of EMCOR Group in a research note on Thursday, September 11th. They issued an “outperform” rating for the company. Stifel Nicolaus boosted their target price on shares of EMCOR Group from $692.00 to $718.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. DA Davidson increased their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Finally, The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $495.00 to $676.00 in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $692.83.

Get Our Latest Analysis on EME

EMCOR Group Stock Performance

EMCOR Group stock opened at $638.41 on Friday. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The firm’s 50-day moving average is $653.96 and its 200-day moving average is $601.64. The company has a market cap of $28.58 billion, a P/E ratio of 25.67 and a beta of 1.17.

EMCOR Group (NYSE:EME – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, hitting the consensus estimate of $6.57. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the business earned $5.80 earnings per share. EMCOR Group’s quarterly revenue was up 16.4% on a year-over-year basis. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. As a group, sell-side analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

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

EMCOR Group Profile

(Free Report)

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.

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