Congress Asset Management Co. Reduces Stake in EMCOR Group, Inc. $EME

Congress Asset Management Co. lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 201,693 shares of the construction company’s stock after selling 36,407 shares during the period. Congress Asset Management Co. owned 0.45% of EMCOR Group worth $131,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in EMCOR Group during the second quarter worth about $344,548,000. New Vernon Capital Holdings II LLC purchased a new stake in shares of EMCOR Group during the 1st quarter valued at approximately $114,220,000. Jones Financial Companies Lllp lifted its holdings in EMCOR Group by 56,287.8% in the first quarter. Jones Financial Companies Lllp now owns 286,450 shares of the construction company’s stock valued at $105,881,000 after acquiring an additional 285,942 shares during the last quarter. AQR Capital Management LLC grew its position in EMCOR Group by 43.6% in the first quarter. AQR Capital Management LLC now owns 703,456 shares of the construction company’s stock worth $253,065,000 after acquiring an additional 213,631 shares during the period. Finally, Nordea Investment Management AB increased its stake in 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. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of EME opened at $612.03 on Friday. The company’s 50-day simple moving average is $647.01 and its 200-day simple moving average is $608.57. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The stock has a market capitalization of $27.40 billion, a PE ratio of 24.61 and a beta of 1.17.

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

EMCOR Group Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio is currently 4.02%.

EMCOR Group announced that its board has initiated a share repurchase plan on Thursday, December 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. William Blair initiated coverage on shares of EMCOR Group in a research report on Thursday, September 11th. They set an “outperform” rating for the company. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and boosted their price target for the company from $495.00 to $676.00 in a research note on Tuesday, October 7th. Finally, Stifel Nicolaus increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $692.83.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total value of $897,316.50. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.83% of the company’s stock.

About EMCOR Group

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.