Carmel Capital Partners LLC Reduces Stake in EMCOR Group, Inc. $EME

Carmel Capital Partners LLC lessened its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 25.1% during the 3rd quarter, Holdings Channel reports. The fund owned 2,766 shares of the construction company’s stock after selling 927 shares during the quarter. Carmel Capital Partners LLC’s holdings in EMCOR Group were worth $1,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. iA Global Asset Management Inc. increased its position in EMCOR Group by 864.1% during the third quarter. iA Global Asset Management Inc. now owns 12,755 shares of the construction company’s stock worth $8,285,000 after purchasing an additional 11,432 shares during the last quarter. New Wave Wealth Advisors LLC boosted its holdings in EMCOR Group by 2.2% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 1,106 shares of the construction company’s stock valued at $718,000 after purchasing an additional 24 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of EMCOR Group in the 3rd quarter valued at approximately $200,000. Stock Yards Bank & Trust Co. increased its holdings in shares of EMCOR Group by 0.7% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 60,614 shares of the construction company’s stock worth $39,371,000 after buying an additional 429 shares during the last quarter. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of EMCOR Group during the 3rd quarter valued at approximately $29,503,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EME. Robert W. Baird set a $713.00 price objective on EMCOR Group in a research 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. Stifel Nicolaus raised their price objective on EMCOR Group from $692.00 to $718.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and upped their target price for the company from $495.00 to $676.00 in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, October 8th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $692.83.

Insider Transactions at EMCOR Group

In other EMCOR Group 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 value 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.83% of the stock is currently owned by company insiders.

EMCOR Group Trading Down 0.8%

EME opened at $702.89 on Friday. The stock’s 50-day moving average price is $631.87 and its 200 day moving average price is $633.14. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64. The firm has a market cap of $31.47 billion, a price-to-earnings ratio of 28.26 and a beta of 1.17.

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

EMCOR Group Increases Dividend

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

EMCOR Group announced that its Board of Directors has initiated a stock 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 repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.