Price T Rowe Associates Inc. MD Sells 6,571 Shares of EMCOR Group, Inc. $EME

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in EMCOR Group by 5.0%, selling 6,571 shares, and now owns approximately 125,970 shares valued at $46.56 million.
• EMCOR Group's quarterly earnings reported $6.72 EPS, significantly exceeding the analysts' consensus estimate of $5.68, along with a revenue of $4.30 billion.
• Multiple brokerages have issued positive ratings on EMCOR Group, with DA Davidson raising its price target from $515.00 to $725.00 and assessing the stock as a "buy".

Price T Rowe Associates Inc. MD lessened its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,970 shares of the construction company's stock after selling 6,571 shares during the period. Price T Rowe Associates Inc. MD owned about 0.28% of EMCOR Group worth $46,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EME. Pacer Advisors Inc. grew its position in shares of EMCOR Group by 3,878.2% during the 1st quarter. Pacer Advisors Inc. now owns 534,585 shares of the construction company's stock worth $197,599,000 after purchasing an additional 521,147 shares in the last quarter. GAMMA Investing LLC grew its position in shares of EMCOR Group by 49,775.5% during the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock worth $138,266,000 after purchasing an additional 373,316 shares in the last quarter. Nuveen LLC acquired a new position in shares of EMCOR Group during the 1st quarter worth approximately $71,821,000. Ameriprise Financial Inc. grew its position in shares of EMCOR Group by 94.2% during the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock worth $139,349,000 after purchasing an additional 148,915 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of EMCOR Group by 203.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 185,512 shares of the construction company's stock worth $68,571,000 after purchasing an additional 124,295 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group set a $750.00 target price on shares of EMCOR Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. TD Securities started coverage on shares of EMCOR Group in a research report on Friday, June 27th. They set a "buy" rating on the stock. Stifel Nicolaus upped their price target on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Northcoast Research downgraded shares of 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, Robert W. Baird started coverage on shares of EMCOR Group in a report on Friday, June 27th. They set an "outperform" rating and a $560.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $594.50.

EMCOR Group Price Performance

Shares of EMCOR Group stock traded down $13.36 on Friday, reaching $619.89. 353,374 shares of the stock were exchanged, compared to its average volume of 310,887. The firm's 50 day moving average is $583.56 and its 200-day moving average is $476.78. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $667.64. 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 market cap of $27.75 billion, a PE ratio of 25.72 and a beta of 1.27.

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

EMCOR Group Announces Dividend

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

About EMCOR Group

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.