Gibbs Wealth Management Acquires 979 Shares of EMCOR Group, Inc. $EME

Gibbs Wealth Management grew its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 96.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,994 shares of the construction company’s stock after buying an additional 979 shares during the period. Gibbs Wealth Management’s holdings in EMCOR Group were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of EMCOR Group during the second quarter valued at about $344,548,000. Burgundy Asset Management Ltd. grew its stake in EMCOR Group by 2.9% during the second quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock valued at $283,736,000 after acquiring an additional 14,935 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in EMCOR Group by 13.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 518,354 shares of the construction company’s stock worth $275,184,000 after acquiring an additional 60,693 shares during the period. Nordea Investment Management AB lifted its stake in EMCOR Group by 3.1% in the 3rd quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock worth $262,206,000 after purchasing an additional 12,182 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in EMCOR Group by 40.2% in the 2nd quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock valued at $186,953,000 after purchasing an additional 100,144 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EME shares. DA Davidson lifted their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a research report on Friday, October 31st. Finally, Stifel Nicolaus lifted their target price on shares of EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $692.83.

Insider Buying and Selling at EMCOR Group

In related news, Director Robin A. Walker-Lee sold 1,325 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $677.22, for a total transaction of $897,316.50. Following the completion of the sale, the director directly owned 6,140 shares in the company, valued at $4,158,130.80. This represents a 17.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.83% of the company’s stock.

EMCOR Group Price Performance

Shares of EME opened at $694.95 on Friday. The firm has a market cap of $31.11 billion, a P/E ratio of 27.94 and a beta of 1.17. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The stock has a 50 day simple moving average of $633.37 and a two-hundred day simple moving average of $634.14.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $6.57. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.27 billion. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.80 EPS. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be issued a $0.40 dividend. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

EMCOR Group announced that its board has authorized a share repurchase plan on Thursday, December 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

EMCOR Group Profile

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.