Assenagon Asset Management S.A. Cuts Stake in EMCOR Group, Inc. $EME

Assenagon Asset Management S.A. lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 25.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,920 shares of the construction company’s stock after selling 20,350 shares during the period. Assenagon Asset Management S.A. owned approximately 0.13% of EMCOR Group worth $38,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EME. Groupe la Francaise raised its position in shares of EMCOR Group by 79.2% in the 1st quarter. Groupe la Francaise now owns 86 shares of the construction company’s stock worth $33,000 after buying an additional 38 shares during the period. Tobam grew its position in EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in EMCOR Group during the second quarter worth about $43,000. Harbor Investment Advisory LLC increased its stake in EMCOR Group by 110.0% during the second quarter. Harbor Investment Advisory LLC now owns 105 shares of the construction company’s stock worth $56,000 after acquiring an additional 55 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of EMCOR Group by 37.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock worth $59,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Trading Up 2.7%

NYSE EME opened at $612.83 on Friday. The stock has a market cap of $27.44 billion, a P/E ratio of 24.64 and a beta of 1.17. The company’s fifty day simple moving average is $648.04 and its 200-day simple moving average is $606.72. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $778.64.

EMCOR Group (NYSE:EME) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $6.57. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the business earned $5.80 EPS. The business’s 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. On average, research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group announced that its Board of Directors has authorized a share buyback program on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

EMCOR Group Dividend Announcement

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

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total transaction of $897,316.50. Following the completion of the sale, the director owned 6,140 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on EME. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, October 8th. DA Davidson raised their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group upgraded shares of EMCOR Group from a “sell” rating to a “neutral” rating and lifted their target price for the company from $495.00 to $676.00 in a report on Tuesday, October 7th. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Robert W. Baird set a $713.00 price objective on EMCOR Group in a research report on Friday, October 31st. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $692.83.

About EMCOR Group

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.