Corbyn Investment Management Inc. MD Sells 4,656 Shares of EMCOR Group, Inc. $EME

Corbyn Investment Management Inc. MD reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,882 shares of the construction company’s stock after selling 4,656 shares during the period. EMCOR Group makes up about 6.3% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its biggest holding. Corbyn Investment Management Inc. MD’s holdings in EMCOR Group were worth $21,358,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new stake in shares of EMCOR Group during the 2nd quarter valued at approximately $995,000. Pinnbrook Capital Management LP bought a new position in EMCOR Group in the 2nd quarter valued at approximately $1,510,000. Exchange Traded Concepts LLC acquired a new stake in EMCOR Group in the third quarter valued at approximately $528,000. Nordea Investment Management AB grew its stake 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 buying an additional 153,948 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of EMCOR Group by 4.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 21,345 shares of the construction company’s stock worth $11,417,000 after buying an additional 894 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird set a $713.00 price objective on EMCOR Group in a report on Friday, October 31st. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. Stifel Nicolaus raised their price objective on shares of EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $692.83.

EMCOR Group Trading Up 2.4%

Shares of EME stock opened at $653.67 on Tuesday. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $778.64. The stock has a market cap of $29.26 billion, a price-to-earnings ratio of 26.28 and a beta of 1.17. The stock has a 50-day moving average of $631.15 and a 200-day moving average of $620.75.

EMCOR Group (NYSE:EME) last announced its earnings results on Thursday, October 30th. The construction company reported $6.57 EPS for the quarter, meeting the consensus estimate of $6.57. The business 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%.The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.80 earnings per share. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. Sell-side analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 14th. EMCOR Group’s dividend payout ratio is currently 4.02%.

EMCOR Group declared that its board has authorized a stock buyback program on Thursday, December 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,325 shares of EMCOR Group 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 completion of the transaction, the director owned 6,140 shares of the company’s stock, valued at $4,158,130.80. This trade represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by corporate 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.