Bank of Nova Scotia Buys 22,707 Shares of EMCOR Group, Inc. $EME

Key Points

• Bank of Nova Scotia boosted its EMCOR Group stake by 154.9% in Q1, buying 22,707 shares and ending with 37,362 shares valued at about $27.6 million.
• Several other institutional investors also increased positions, and 92.59% of EMCOR’s stock is now held by hedge funds and other institutions.
• EMCOR reported strong quarterly results, with EPS of $6.84 beating estimates and revenue up 19.7% year over year; the company also announced a quarterly dividend of $0.40 per share.

Bank of Nova Scotia grew its position in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 154.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,362 shares of the construction company's stock after buying an additional 22,707 shares during the period. Bank of Nova Scotia owned 0.08% of EMCOR Group worth $27,585,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp lifted its holdings in EMCOR Group by 2.2% during 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 in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $869,343,000 after purchasing an additional 7,790 shares in the last quarter. Victory Capital Management Inc. increased its position 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 purchasing an additional 327,606 shares during the last quarter. Invesco Ltd. increased its position 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 purchasing an additional 75,692 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in EMCOR Group by 132,234.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,611 shares of the construction company's stock valued at $409,661,000 after purchasing an additional 669,105 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EME has been the topic of several research reports. Cantor Fitzgerald restated an "overweight" rating and set a $1,123.00 price objective on shares of EMCOR Group in a research report on Tuesday, June 16th. Stifel Nicolaus set a $918.00 target price on shares of EMCOR Group in a research report on Thursday, April 30th. Weiss Ratings reissued a "buy (b)" rating on shares of EMCOR Group in a research note on Friday, July 17th. Oppenheimer initiated coverage on EMCOR Group in a research report on Thursday, May 28th. They set an "outperform" rating and a $1,100.00 price target on the stock. Finally, Zacks Research raised EMCOR Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two 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 an average target price of $871.25.

Insider Activity at EMCOR Group

In other news, VP Robert Peter Lind sold 675 shares of EMCOR Group stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $894.27, for a total transaction of $603,632.25. Following the transaction, the vice president owned 4,216 shares in the company, valued at $3,770,242.32. This trade represents a 13.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven Schwarzwaelder sold 5,602 shares of the business's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $895.19, for a total transaction of $5,014,854.38. Following the sale, the director directly owned 15,875 shares of the company's stock, valued at approximately $14,211,141.25. The trade was a 26.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,027 shares of company stock valued at $8,957,466 in the last three months. Corporate insiders own 0.73% of the company's stock.

EMCOR Group Stock Performance

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

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results 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 net margin of 7.54% and a return on equity of 35.19%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same period in the previous year, the business earned $5.41 EPS. The company's quarterly revenue 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. As a group, research analysts predict that EMCOR Group, Inc. will post 29.37 earnings per share for the current year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, July 15th. EMCOR Group's payout ratio is 5.37%.

About EMCOR Group

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.

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