Corebridge Financial Inc. Sells 1,250 Shares of EMCOR Group, Inc. $EME

Key Points

• Corebridge Financial Inc. has reduced its stake in EMCOR Group, Inc. by 2.4%, now owning 51,005 shares valued at $18.85 million.
• EMCOR Group recently announced strong earnings, reporting $6.72 EPS for the quarter and revenue of $4.30 billion, surpassing consensus estimates.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $594.50, with varying ratings from multiple research analysts.

Corebridge Financial Inc. reduced its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,005 shares of the construction company's stock after selling 1,250 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of EMCOR Group worth $18,853,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of EME. BankPlus Trust Department increased its stake in shares of EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock valued at $27,000 after acquiring an additional 48 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of EMCOR Group in the 1st quarter worth $28,000. Hazlett Burt & Watson Inc. bought a new position in shares of EMCOR Group in the 1st quarter worth $30,000. Groupe la Francaise lifted its holdings in shares of EMCOR Group by 79.2% in the 1st quarter. Groupe la Francaise now owns 86 shares of the construction company's stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Finally, Pandora Wealth Inc. bought a new position in shares of EMCOR Group in the 1st quarter worth $37,000. Institutional investors own 92.59% of the company's stock.

EMCOR Group Stock Performance

NYSE:EME traded down $13.36 during trading on Friday, reaching $619.89. The company's stock had a trading volume of 353,374 shares, compared to its average volume of 310,887. The firm has a market cap of $27.75 billion, a price-to-earnings ratio of 25.72 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.18. The firm has a 50 day moving average of $583.56 and a 200-day moving average of $476.78. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $667.64.

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

EMCOR Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Securities assumed coverage on EMCOR Group in a report on Friday, June 27th. They issued a "buy" rating on the stock. DA Davidson increased their target price on EMCOR Group from $515.00 to $725.00 and gave the stock a "buy" rating in a report on Friday, August 1st. UBS Group set a $750.00 target price on EMCOR Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Northcoast Research downgraded EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 price target for the company. in a report on Thursday, August 7th. Finally, Jefferies Financial Group assumed coverage on EMCOR Group in a report on Friday, June 27th. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, EMCOR Group has an average rating of "Moderate Buy" and a consensus price target of $594.50.

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.