SteelPeak Wealth LLC Acquires 766 Shares of EMCOR Group, Inc. $EME

Key Points

• SteelPeak Wealth LLC increased its stake in EMCOR Group by 36.9%, acquiring an additional 766 shares to own a total of 2,842 shares valued at $1,520,000.
• EMCOR Group reported stronger-than-expected quarterly earnings with an EPS of $6.72, surpassing estimates, along with a revenue of $4.30 billion for the quarter.
• The company just announced a quarterly dividend of $0.25 per share, with a payout date set for October 30th, representing an annualized yield of 0.1%.

SteelPeak Wealth LLC grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 36.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,842 shares of the construction company's stock after acquiring an additional 766 shares during the period. SteelPeak Wealth LLC's holdings in EMCOR Group were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. McLean Asset Management Corp raised its stake in EMCOR Group by 2.8% during the second quarter. McLean Asset Management Corp now owns 700 shares of the construction company's stock worth $379,000 after buying an additional 19 shares during the last quarter. Park Place Capital Corp raised its stake in EMCOR Group by 6.9% during the second quarter. Park Place Capital Corp now owns 308 shares of the construction company's stock worth $164,000 after buying an additional 20 shares during the last quarter. NBC Securities Inc. raised its stake in EMCOR Group by 0.7% during the second quarter. NBC Securities Inc. now owns 3,170 shares of the construction company's stock worth $1,695,000 after buying an additional 23 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in EMCOR Group by 2.2% during the second quarter. Institute for Wealth Management LLC. now owns 1,051 shares of the construction company's stock worth $562,000 after buying an additional 23 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its stake in EMCOR Group by 1.9% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 1,518 shares of the construction company's stock worth $812,000 after buying an additional 29 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EME. Northcoast Research downgraded 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. TD Securities began coverage on shares of EMCOR Group in a report on Friday, June 27th. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on shares of EMCOR Group in a report on Friday, June 27th. They issued a "buy" rating for the company. Weiss Ratings restated a "buy (b)" rating on shares of EMCOR Group in a report on Saturday, September 27th. Finally, Stifel Nicolaus raised 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. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $634.67.

EMCOR Group Trading Up 0.5%

NYSE:EME opened at $673.59 on Wednesday. The stock has a market capitalization of $30.15 billion, a price-to-earnings ratio of 27.95 and a beta of 1.24. The firm has a fifty day simple moving average of $628.82 and a two-hundred day simple moving average of $521.45. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $685.82. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $6.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.68 by $1.04. The firm had revenue of $4.30 billion during 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 revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $5.25 earnings per share. EMCOR Group has set its FY 2025 guidance at 24.500-25.750 EPS. Analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 30th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, October 15th. EMCOR Group's dividend payout ratio (DPR) is currently 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.

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