Bank of America Corp DE Acquires Shares of 340,421 EMCOR Group, Inc. $EME

Key Points

• Bank of America acquired 340,421 EMCOR shares worth approximately $282.5 million, representing about 0.77% of the company. Institutional investors collectively own 92.59% of EMCOR’s stock.
• EMCOR reported strong quarterly results, with earnings of $9.06 per share and revenue of $5.15 billion, surpassing analyst estimates; revenue increased 19.7% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $965.86, while EMCOR pays a quarterly dividend of $0.40 per share.

Bank of America Corp DE acquired a new stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 340,421 shares of the construction company's stock, valued at approximately $282,509,000. Bank of America Corp DE owned about 0.77% of EMCOR Group as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of EMCOR Group in the second quarter valued at approximately $3,416,412,000. Geode Capital Management LLC raised its position in 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 worth $869,343,000 after acquiring an additional 7,790 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of EMCOR Group by 34.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,276,966 shares of the construction company's stock worth $781,239,000 after purchasing an additional 327,606 shares during the last quarter. Norges Bank purchased a new stake in shares of EMCOR Group in the fourth quarter valued at $389,702,000. Finally, First Trust Advisors LP raised its stake in EMCOR Group by 7.3% in the 1st quarter. First Trust Advisors LP now owns 630,406 shares of the construction company's stock valued at $465,435,000 after purchasing an additional 42,949 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

EMCOR Group Stock Up 0.6%

Shares of EME stock opened at $739.84 on Thursday. EMCOR Group, Inc. has a fifty-two week low of $564.92 and a fifty-two week high of $951.96. The stock has a 50-day simple moving average of $773.25 and a 200 day simple moving average of $797.31. The stock has a market capitalization of $32.63 billion, a P/E ratio of 23.01 and a beta of 1.13.

EMCOR Group (NYSE:EME - Get Free Report) last issued its earnings results on Thursday, July 30th. The construction company reported $9.06 earnings per share for the quarter, topping analysts' consensus estimates of $7.23 by $1.83. EMCOR Group had a net margin of 7.74% and a return on equity of 35.49%. The firm had revenue of $5.15 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same period last year, the firm posted $6.72 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 32.000-33.250 EPS. On average, sell-side analysts anticipate that EMCOR Group, Inc. will post 32.98 earnings per share for the current year.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, July 15th. EMCOR Group's dividend payout ratio is currently 4.98%.

Analyst Upgrades and Downgrades

EME has been the topic of a number of recent analyst reports. Cantor Fitzgerald reduced their price target on EMCOR Group from $1,123.00 to $1,047.00 and set an "overweight" rating on the stock in a research note on Monday, August 10th. Zacks Research upgraded EMCOR Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. DA Davidson set a $1,047.00 price target on shares of EMCOR Group in a report on Monday, August 10th. Weiss Ratings downgraded shares of EMCOR Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, August 27th. Finally, UBS Group boosted their price target on shares of EMCOR Group from $975.00 to $1,065.00 and gave the company a "buy" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $965.86.

EMCOR Group Profile

EMCOR Group, Inc is a specialty construction and building services company headquartered in Norwalk, Connecticut. Through its operating companies, EMCOR provides electrical and mechanical construction services for commercial, industrial, institutional and government facilities.

The company's services include electrical power and communications systems, heating, ventilation and air-conditioning systems, plumbing, process and industrial piping, building automation, energy infrastructure, fire protection and transportation systems.

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