Amalgamated Bank Cuts Stock Holdings in EMCOR Group, Inc. $EME

Amalgamated Bank lessened its position in EMCOR Group, Inc. (NYSE:EME) by 55.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,479 shares of the construction company’s stock after selling 11,848 shares during the quarter. Amalgamated Bank’s holdings in EMCOR Group were worth $6,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EME. Norges Bank purchased a new position in shares of EMCOR Group in the 2nd quarter valued at $344,548,000. Nordea Investment Management AB boosted its stake in EMCOR Group by 63.8% in the second quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock valued at $210,278,000 after acquiring an additional 153,948 shares during the period. Federated Hermes Inc. grew its position in EMCOR Group by 56.4% in the 2nd quarter. Federated Hermes Inc. now owns 322,437 shares of the construction company’s stock worth $172,468,000 after purchasing an additional 116,289 shares during the last quarter. American Century Companies Inc. grew its stake in shares of EMCOR Group by 40.2% in the second quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock worth $186,953,000 after purchasing an additional 100,144 shares in the last quarter. Finally, Symphony Financial Ltd. Co. acquired a new position in shares of EMCOR Group during the second quarter valued at approximately $47,504,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on EME shares. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $495.00 to $676.00 in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, October 8th. DA Davidson increased 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. Finally, Stifel Nicolaus upped 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 issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and an average price target of $692.83.

EMCOR Group Trading Down 1.5%

NYSE:EME opened at $687.97 on Wednesday. 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 $30.80 billion, a PE ratio of 27.66 and a beta of 1.17. The firm has a fifty day simple moving average of $628.90 and a 200 day simple moving average of $632.12.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $4.27 billion. During the same period last year, the business posted $5.80 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 14th will be paid a $0.40 dividend. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, January 14th. EMCOR Group’s payout ratio is presently 6.43%.

EMCOR Group announced that its Board of Directors has approved a share buyback plan on Thursday, December 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $677.22, for a total value of $897,316.50. Following the transaction, the director directly owned 6,140 shares of the company’s stock, valued at $4,158,130.80. The trade was a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is owned by insiders.

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.