64,482 Shares in EMCOR Group, Inc. $EME Purchased by Shellback Capital LP

Key Points

• Shellback Capital LP has acquired a new position in EMCOR Group, purchasing 64,482 shares valued at approximately $23.8 million, representing 2.3% of its investment portfolio.
• EMCOR Group reported a quarterly EPS of $6.72, exceeding analysts' expectations of $5.68, with a year-over-year revenue increase of 17.4% to $4.30 billion.
• The company announced a quarterly dividend of $0.25 per share, yielding an annualized dividend of $1.00 with a payout ratio of 4.15%.

Shellback Capital LP purchased a new position in EMCOR Group, Inc. (NYSE:EME - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 64,482 shares of the construction company's stock, valued at approximately $23,834,000. EMCOR Group comprises about 2.3% of Shellback Capital LP's holdings, making the stock its 11th largest holding. Shellback Capital LP owned about 0.14% of EMCOR Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EME. Pacer Advisors Inc. increased its stake in shares of EMCOR Group by 3,878.2% in the first quarter. Pacer Advisors Inc. now owns 534,585 shares of the construction company's stock worth $197,599,000 after buying an additional 521,147 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of EMCOR Group by 49,775.5% in the first quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock worth $138,266,000 after buying an additional 373,316 shares during the last quarter. New Vernon Capital Holdings II LLC bought a new stake in shares of EMCOR Group in the first quarter worth $114,220,000. AQR Capital Management LLC increased its stake in shares of EMCOR Group by 43.6% in the first quarter. AQR Capital Management LLC now owns 703,456 shares of the construction company's stock worth $253,065,000 after buying an additional 213,631 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of EMCOR Group in the first quarter worth $71,821,000. Institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EME shares. Hovde Group upgraded shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. Jefferies Financial Group started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating for the company. TD Securities started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a "buy" rating for the company. DA Davidson boosted their target price on shares of EMCOR Group from $515.00 to $725.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Northcoast Research lowered shares of EMCOR Group from a "buy" rating to a "neutral" rating and set a $500.00 target price for the company. in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, EMCOR Group has a consensus rating of "Moderate Buy" and an average target price of $594.50.

EMCOR Group Stock Performance

Shares of EME traded up $5.70 during midday trading on Thursday, hitting $640.10. 499,289 shares of the stock traded hands, compared to its average volume of 474,600. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $667.64. The firm has a market capitalization of $28.65 billion, a PE ratio of 26.56 and a beta of 1.28. 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 business's 50 day moving average price is $600.83 and its two-hundred day moving average price is $487.55.

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

EMCOR Group Announces Dividend

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