Wedge Capital Management L L P NC Reduces Position in EMCOR Group, Inc. $EME

Key Points

• Wedge Capital Management has reduced its holdings in EMCOR Group, Inc. by 45%, now owning 21,420 shares valued at approximately $11.46 million.
• Analysts have raised the price target for EMCOR Group from $503 to $597, reflecting strong investor sentiment with a consensus rating of "Moderate Buy."
• EMCOR reported a 17.4% increase in revenue compared to last year, with quarterly earnings per share of $6.72, exceeding expectations.

Wedge Capital Management L L P NC trimmed its stake in EMCOR Group, Inc. (NYSE:EME - Free Report) by 45.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,420 shares of the construction company's stock after selling 17,494 shares during the period. Wedge Capital Management L L P NC's holdings in EMCOR Group were worth $11,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Silver Oak Securities Incorporated increased its position in shares of EMCOR Group by 11.8% in the second quarter. Silver Oak Securities Incorporated now owns 2,646 shares of the construction company's stock valued at $1,415,000 after buying an additional 280 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of EMCOR Group by 65.1% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,619 shares of the construction company's stock worth $4,610,000 after purchasing an additional 3,400 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in EMCOR Group by 6.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,934 shares of the construction company's stock worth $4,779,000 after buying an additional 523 shares in the last quarter. Trust Point Inc. raised its stake in shares of EMCOR Group by 6.4% in the 2nd quarter. Trust Point Inc. now owns 935 shares of the construction company's stock valued at $500,000 after purchasing an additional 56 shares during the period. Finally, NorthCrest Asset Manangement LLC bought a new position in shares of EMCOR Group during the second quarter worth approximately $276,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EME shares. Zacks Research upgraded shares of EMCOR Group from a "hold" rating to a "strong-buy" rating in a report on Friday, September 12th. The Goldman Sachs Group boosted their price objective on shares of EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. William Blair assumed coverage on EMCOR Group in a research note on Thursday, September 11th. They issued an "outperform" rating for the company. Finally, Hovde Group upgraded shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, EMCOR Group currently has an average rating of "Moderate Buy" and an average target price of $594.50.

EMCOR Group Price Performance

EME stock traded up $4.91 during mid-day trading on Friday, hitting $633.83. The company had a trading volume of 10,504,955 shares, compared to its average volume of 934,496. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $667.64. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $612.05 and a 200 day moving average price of $500.14. The company has a market capitalization of $28.37 billion, a price-to-earnings ratio of 26.30 and a beta of 1.28.

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

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 15th. EMCOR Group's dividend payout ratio (DPR) is 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.