iA Global Asset Management Inc. Has $8.29 Million Holdings in EMCOR Group, Inc. $EME

iA Global Asset Management Inc. boosted its holdings in EMCOR Group, Inc. (NYSE:EME) by 864.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,755 shares of the construction company’s stock after acquiring an additional 11,432 shares during the quarter. iA Global Asset Management Inc.’s holdings in EMCOR Group were worth $8,285,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Donoghue Forlines LLC purchased a new position in shares of EMCOR Group during the third quarter valued at approximately $2,221,000. B. Riley Wealth Advisors Inc. bought a new position in EMCOR Group during the 2nd quarter valued at $995,000. Exchange Traded Concepts LLC bought a new position in EMCOR Group during the 3rd quarter valued at $528,000. Pinnbrook Capital Management LP bought a new stake in shares of EMCOR Group in the 2nd quarter worth $1,510,000. Finally, Nordea Investment Management AB grew its stake in shares of EMCOR Group by 63.8% in the 2nd quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock worth $210,278,000 after acquiring an additional 153,948 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 recently weighed in on the stock. DA Davidson raised their price target on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday. Stifel Nicolaus boosted their target price on EMCOR Group from $692.00 to $718.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Zacks Research downgraded EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. One investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $692.83.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total value of $897,316.50. Following the completion of the transaction, the director directly owned 6,140 shares in the company, valued at approximately $4,158,130.80. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.83% of the company’s stock.

EMCOR Group Price Performance

NYSE:EME opened at $694.95 on Friday. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The stock’s fifty day moving average price is $633.37 and its two-hundred day moving average price is $634.14. The company has a market cap of $31.11 billion, a P/E ratio of 27.94 and a beta of 1.17.

EMCOR Group (NYSE:EME) last released 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 for the quarter, compared to analyst estimates of $4.27 billion. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.80 EPS. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.40 per share. This is a boost 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 currently 6.43%.

EMCOR Group declared that its board has authorized a stock repurchase program on Thursday, December 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

EMCOR Group Company 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.