State of New Jersey Common Pension Fund D Sells 635 Shares of EMCOR Group, Inc. $EME

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in EMCOR Group, Inc. by 3.8%, now owning 15,919 shares valued at approximately $5.88 million.
• Analysts have shown a positive outlook on EMCOR Group, with recent upgrades from multiple firms including a price target increase from $515.00 to $725.00 by DA Davidson.
• EMCOR Group recently announced a quarterly dividend of $0.25, marking a 0.2% yield for investors, with a low dividend payout ratio of 4.15%.

State of New Jersey Common Pension Fund D cut its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,919 shares of the construction company's stock after selling 635 shares during the period. State of New Jersey Common Pension Fund D's holdings in EMCOR Group were worth $5,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. lifted its stake in EMCOR Group by 5.2% during the first quarter. Thompson Davis & CO. Inc. now owns 815 shares of the construction company's stock worth $301,000 after purchasing an additional 40 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of EMCOR Group by 16.6% during the first quarter. American Century Companies Inc. now owns 249,373 shares of the construction company's stock worth $92,176,000 after buying an additional 35,426 shares in the last quarter. Ethic Inc. increased its holdings in shares of EMCOR Group by 40.9% during the first quarter. Ethic Inc. now owns 4,983 shares of the construction company's stock worth $1,871,000 after buying an additional 1,446 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of EMCOR Group during the first quarter worth $10,127,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of EMCOR Group by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 430,607 shares of the construction company's stock worth $159,153,000 after buying an additional 34,541 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Trading Down 0.1%

EME traded down $0.5080 during trading on Friday, reaching $610.3420. 222,909 shares of the stock traded hands, compared to its average volume of 355,442. 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 stock has a market capitalization of $27.32 billion, a PE ratio of 25.33 and a beta of 1.27. The stock's 50-day moving average is $569.94 and its 200 day moving average is $471.04. 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 issued its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, beating analysts' consensus estimates of $5.68 by $1.04. The business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.10 billion. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The business's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.25 earnings per share. EMCOR Group has set its FY 2025 guidance at 24.500-25.750 EPS. Equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EME. Robert W. Baird began coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating and a $560.00 price objective on the stock. TD Securities began coverage on shares of EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating on the stock. Stifel Nicolaus boosted their price objective on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. UBS Group set a $750.00 price objective on shares of EMCOR Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, DA Davidson boosted their price objective on shares of EMCOR Group from $515.00 to $725.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $594.50.

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.