Bank of Nova Scotia Raises Stock Position in EMCOR Group, Inc. $EME

Bank of Nova Scotia increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 154.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,362 shares of the construction company’s stock after purchasing an additional 22,707 shares during the quarter. Bank of Nova Scotia’s holdings in EMCOR Group were worth $27,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EME. State Street Corp boosted its stake in EMCOR Group by 2.2% in the 4th quarter. State Street Corp now owns 1,893,792 shares of the construction company’s stock worth $1,158,603,000 after purchasing an additional 40,801 shares during the period. Geode Capital Management LLC raised its position in shares of EMCOR Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,425,523 shares of the construction company’s stock valued at $869,343,000 after buying an additional 7,790 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of EMCOR Group by 34.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,276,966 shares of the construction company’s stock worth $781,239,000 after buying an additional 327,606 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of EMCOR Group by 10.5% in the fourth quarter. Invesco Ltd. now owns 799,271 shares of the construction company’s stock worth $488,986,000 after buying an additional 75,692 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of EMCOR Group by 132,234.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company’s stock worth $409,661,000 after acquiring an additional 669,105 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EME. Oppenheimer began coverage on shares of EMCOR Group in a report on Thursday, May 28th. They issued an “outperform” rating and a $1,100.00 price target on the stock. Zacks Research raised shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded EMCOR Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a report on Friday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,123.00 target price on shares of EMCOR Group in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $871.25.

Insider Activity

In other news, CFO Jason R. Nalbandian sold 800 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $856.43, for a total transaction of $685,144.00. Following the completion of the sale, the chief financial officer owned 18,157 shares in the company, valued at approximately $15,550,199.51. This represents a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William P. Reid sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $925.78, for a total value of $1,851,560.00. Following the transaction, the director owned 10,149 shares in the company, valued at approximately $9,395,741.22. This trade represents a 16.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,027 shares of company stock worth $8,957,466 over the last 90 days. 0.73% of the stock is currently owned by insiders.

EMCOR Group Stock Down 3.2%

Shares of NYSE:EME opened at $744.47 on Friday. The firm has a 50 day moving average of $812.24 and a 200 day moving average of $784.37. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of 24.97 and a beta of 1.13. EMCOR Group, Inc. has a 52 week low of $564.92 and a 52 week high of $951.96.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $5.90 by $0.94. EMCOR Group had a return on equity of 35.19% and a net margin of 7.54%.The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the company earned $5.41 earnings per share. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. EMCOR Group has set its FY 2026 guidance at 28.250-29.750 EPS. On average, sell-side analysts expect that EMCOR Group, Inc. will post 29.37 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s payout ratio is presently 5.37%.

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.