BlackRock Inc. purchased a new stake in EMCOR Group, Inc. (NYSE:EME - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,116,754 shares of the construction company's stock, valued at approximately $3,416,412,000. BlackRock Inc. owned about 9.33% of EMCOR Group as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Great Lakes Advisors LLC increased its holdings in EMCOR Group by 32.3% in the 1st quarter. Great Lakes Advisors LLC now owns 590 shares of the construction company's stock worth $218,000 after purchasing an additional 144 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of EMCOR Group by 93.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the construction company's stock worth $81,000 after purchasing an additional 106 shares during the period. Sivia Capital Partners LLC bought a new stake in EMCOR Group during the second quarter valued at $459,000. Baird Financial Group Inc. boosted its position in shares of EMCOR Group by 5.0% during the 2nd quarter. Baird Financial Group Inc. now owns 5,820 shares of the construction company's stock valued at $3,113,000 after purchasing an additional 275 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of EMCOR Group by 406.1% during the 2nd quarter. Bank of Nova Scotia now owns 4,565 shares of the construction company's stock worth $2,442,000 after buying an additional 3,663 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Carol P. Lowe sold 950 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $844.50, for a total transaction of $802,275.00. Following the completion of the sale, the director directly owned 17,278 shares in the company, valued at $14,591,271. This represents a 5.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is owned by corporate insiders.
EMCOR Group Stock Down 4.5%
Shares of NYSE EME opened at $823.87 on Wednesday. The stock's 50-day simple moving average is $798.19 and its two-hundred day simple moving average is $799.61. The firm has a market capitalization of $36.34 billion, a P/E ratio of 25.63 and a beta of 1.14. EMCOR Group, Inc. has a twelve month low of $564.92 and a twelve month high of $951.96.
EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results on Thursday, July 30th. The construction company reported $9.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.23 by $1.83. EMCOR Group had a net margin of 7.74% and a return on equity of 35.49%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same period in the previous year, the business posted $6.72 earnings per share. EMCOR Group's revenue for the quarter was up 19.7% on a year-over-year basis. EMCOR Group has set its FY 2026 guidance at 32.000-33.250 EPS. As a group, research analysts anticipate that EMCOR Group, Inc. will post 33.04 EPS for the current fiscal year.
EMCOR Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, July 15th. EMCOR Group's payout ratio is presently 4.98%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on EME. Cantor Fitzgerald reduced their target price on EMCOR Group from $1,123.00 to $1,047.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Stifel Nicolaus set a $918.00 target price on shares of EMCOR Group in a report on Thursday, April 30th. DA Davidson set a $1,047.00 price target on EMCOR Group in a report on Monday, August 10th. Zacks Research upgraded shares of EMCOR Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Finally, UBS Group increased their price target on EMCOR Group from $975.00 to $1,065.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, EMCOR Group has an average rating of "Buy" and a consensus target price of $965.86.
Check Out Our Latest Stock Report on EMCOR Group
EMCOR Group Company Profile
(
Free Report)
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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