Assenagon Asset Management S.A. Has $42.94 Million Stake in EMCOR Group, Inc. $EME

Key Points

• Assenagon Asset Management S.A. decreased its stake in EMCOR Group by 56.7%, selling 105,242 shares and holding 80,270 shares worth approximately $42.9 million at the end of the reporting period.
• EMCOR Group reported a Q2 EPS of $6.72, exceeding expectations, with a revenue of $4.30 billion—up 17.4% year-over-year.
• The stock has received various ratings, including a "strong-buy" from Baird R W and an upward price target adjustment to $725.00 by DA Davidson, indicating overall positive analyst sentiment.

Assenagon Asset Management S.A. lowered its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 56.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,270 shares of the construction company's stock after selling 105,242 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of EMCOR Group worth $42,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of EMCOR Group by 43.6% during the 1st quarter. AQR Capital Management LLC now owns 703,456 shares of the construction company's stock valued at $253,065,000 after acquiring an additional 213,631 shares in the last quarter. Northern Trust Corp lifted its stake in shares of EMCOR Group by 3.7% during the first quarter. Northern Trust Corp now owns 571,487 shares of the construction company's stock worth $211,239,000 after purchasing an additional 20,604 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in EMCOR Group by 3,878.2% in the 1st quarter. Pacer Advisors Inc. now owns 534,585 shares of the construction company's stock worth $197,599,000 after acquiring an additional 521,147 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in EMCOR Group by 6.9% in the 1st quarter. Burgundy Asset Management Ltd. now owns 515,522 shares of the construction company's stock worth $190,552,000 after acquiring an additional 33,069 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in EMCOR Group by 6.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 457,661 shares of the construction company's stock worth $171,852,000 after acquiring an additional 28,038 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen upgraded EMCOR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. William Blair assumed coverage on EMCOR Group in a research note on Thursday, September 11th. They set an "outperform" rating for the company. TD Securities assumed coverage on EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating for the company. UBS Group set a $750.00 target price on EMCOR Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Stifel Nicolaus increased their target price on EMCOR Group from $503.00 to $597.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $594.50.

EMCOR Group Price Performance

EME stock traded up $22.86 during trading hours on Monday, hitting $654.88. 837,611 shares of the stock traded hands, compared to its average volume of 934,496. The stock has a 50-day simple moving average of $614.00 and a 200 day simple moving average of $502.09. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $667.64. The company has a market cap of $29.31 billion, a P/E ratio of 27.17 and a beta of 1.28. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08.

EMCOR Group (NYSE:EME - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.68 by $1.04. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the firm earned $5.25 EPS. The company's revenue was up 17.4% compared to the same quarter last year. EMCOR Group has set its FY 2025 guidance at 24.500-25.750 EPS. Equities analysts forecast that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $1.00 annualized dividend and a yield of 0.2%. EMCOR Group's payout ratio is currently 4.15%.

EMCOR Group Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.