Meritage Portfolio Management Has $3.06 Million Stock Holdings in EMCOR Group, Inc. $EME

Meritage Portfolio Management decreased its position in shares of EMCOR Group, Inc. (NYSE:EME) by 28.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,710 shares of the construction company’s stock after selling 1,902 shares during the quarter. Meritage Portfolio Management’s holdings in EMCOR Group were worth $3,059,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in EMCOR Group by 3.0% in the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock worth $362,000 after purchasing an additional 16 shares in the last quarter. Woodward Diversified Capital LLC raised its holdings in shares of EMCOR Group by 2.4% during the third quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock valued at $494,000 after purchasing an additional 18 shares during the period. Park Place Capital Corp raised its holdings in shares of EMCOR Group by 6.9% during the second quarter. Park Place Capital Corp now owns 308 shares of the construction company’s stock valued at $164,000 after purchasing an additional 20 shares during the period. Altus Wealth Group LLC boosted its position in shares of EMCOR Group by 1.4% during the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock worth $971,000 after purchasing an additional 20 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its stake in shares of EMCOR Group by 2.1% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,092 shares of the construction company’s stock valued at $584,000 after buying an additional 22 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on EMCOR Group from $692.00 to $718.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. DA Davidson upped their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, October 8th. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, The Goldman Sachs Group upgraded shares of EMCOR Group from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $495.00 to $676.00 in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $692.83.

EMCOR Group Stock Up 3.2%

Shares of NYSE:EME opened at $681.92 on Friday. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 27.42 and a beta of 1.17. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64. The business’s 50 day moving average is $626.09 and its 200 day moving average is $627.61.

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

EMCOR Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, January 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. EMCOR Group’s payout ratio is 6.43%.

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

Insiders Place Their Bets

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,325 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 6,140 shares of the company’s stock, valued at approximately $4,158,130.80. This represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company’s stock.

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.