CIBC Asset Management Inc Grows Position in EMCOR Group, Inc. $EME

CIBC Asset Management Inc raised its holdings in EMCOR Group, Inc. (NYSE:EME) by 278.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,726 shares of the construction company’s stock after purchasing an additional 4,211 shares during the period. CIBC Asset Management Inc’s holdings in EMCOR Group were worth $3,719,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Quent Capital LLC purchased a new position in EMCOR Group in the 3rd quarter valued at approximately $29,000. Orion Capital Management LLC bought a new position in shares of EMCOR Group in the third quarter worth $31,000. Tobam boosted its holdings in shares of EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after acquiring an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of EMCOR Group in the second quarter valued at $43,000. Finally, True Wealth Design LLC raised its stake in shares of EMCOR Group by 333.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after purchasing an additional 70 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EME has been the subject of several analyst reports. Stifel Nicolaus raised their target price on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. Finally, The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and raised their price target for the company from $495.00 to $676.00 in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Trading Up 1.3%

EME opened at $716.02 on Wednesday. The stock has a market capitalization of $32.06 billion, a P/E ratio of 28.79 and a beta of 1.17. The stock has a 50-day moving average price of $637.32 and a 200-day moving average price of $637.67. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $6.57. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $5.80 EPS. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, equities research analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders 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. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s dividend payout ratio is currently 6.43%.

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

Insider Activity at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,325 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

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.