Lazard Asset Management LLC Buys 8,236 Shares of EMCOR Group, Inc. $EME

Key Points

• Lazard Asset Management increased its EMCOR Group stake by 20.2% in the first quarter, buying 8,236 shares to own 49,082 shares valued at approximately $36.2 million. Institutional investors collectively own 92.59% of the company.
• Analyst sentiment is positive, with EMCOR receiving a consensus “Moderate Buy” rating and an average price target of $871.25. Recent targets range from $918 to $1,123.
• EMCOR reported first-quarter adjusted EPS of $6.84 and revenue of $4.63 billion, surpassing estimates and marking 19.7% year-over-year revenue growth. The company also declared a quarterly dividend of $0.40 per share.

Lazard Asset Management LLC raised its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 20.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,082 shares of the construction company's stock after buying an additional 8,236 shares during the quarter. Lazard Asset Management LLC owned about 0.11% of EMCOR Group worth $36,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EME. Gateway Wealth Partners LLC bought a new position in shares of EMCOR Group in the first quarter valued at approximately $859,000. OMERS ADMINISTRATION Corp increased its holdings in EMCOR Group by 24.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 4,408 shares of the construction company's stock worth $3,254,000 after acquiring an additional 875 shares during the period. Lombard Odier Asset Management Switzerland SA bought a new stake in EMCOR Group during the 1st quarter worth approximately $1,494,000. Waverly Advisors LLC lifted its stake in EMCOR Group by 57.1% in the 1st quarter. Waverly Advisors LLC now owns 1,551 shares of the construction company's stock worth $1,145,000 after purchasing an additional 564 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in EMCOR Group by 0.8% in the 1st quarter. Empirical Finance LLC now owns 2,260 shares of the construction company's stock worth $1,669,000 after purchasing an additional 19 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on EME. Cantor Fitzgerald restated an "overweight" rating and set a $1,123.00 price target on shares of EMCOR Group in a research report on Tuesday, June 16th. Stifel Nicolaus set a $918.00 price objective on EMCOR Group in a research report on Thursday, April 30th. Zacks Research raised EMCOR Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Oppenheimer started coverage on EMCOR Group in a research report on Thursday, May 28th. They set an "outperform" rating and a $1,100.00 target price for the company. Finally, Wall Street Zen upgraded EMCOR Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, EMCOR Group has an average rating of "Moderate Buy" and a consensus target price of $871.25.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $707.26 on Wednesday. EMCOR Group, Inc. has a 1 year low of $564.92 and a 1 year high of $951.96. The firm has a market cap of $31.43 billion, a PE ratio of 23.73 and a beta of 1.13. The company has a 50 day simple moving average of $806.66 and a two-hundred day simple moving average of $786.30.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $6.84 EPS for the quarter, topping analysts' consensus estimates of $5.90 by $0.94. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.20 billion. EMCOR Group had a net margin of 7.54% and a return on equity of 35.19%. The business's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.41 EPS. As a group, research analysts anticipate that EMCOR Group, Inc. will post 29.37 earnings per share for the current year.

EMCOR Group Announces Dividend

The business 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 $0.40 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.60 annualized dividend and a yield of 0.2%. EMCOR Group's payout ratio is 5.37%.

Insider Buying and Selling

In other EMCOR Group news, CFO Jason R. Nalbandian sold 800 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $856.43, for a total transaction of $685,144.00. Following the sale, the chief financial officer owned 18,157 shares in the company, valued at $15,550,199.51. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert Peter Lind sold 675 shares of EMCOR Group stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $894.27, for a total value of $603,632.25. Following the sale, the vice president directly owned 4,216 shares of the company's stock, valued at approximately $3,770,242.32. This trade represents a 13.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,027 shares of company stock valued at $8,957,466 in the last three months. 0.73% of the stock is owned by corporate insiders.

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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