Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in EMCOR Group, Inc. $EME

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in EMCOR Group, Inc. (NYSE:EME) by 27.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,677 shares of the construction company’s stock after purchasing an additional 1,221 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in EMCOR Group were worth $3,687,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Advisors LLC purchased a new stake in EMCOR Group in the third quarter valued at approximately $430,000. Nisa Investment Advisors LLC raised its position in EMCOR Group by 4.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 29,071 shares of the construction company’s stock worth $18,883,000 after buying an additional 1,260 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in EMCOR Group by 45.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,454 shares of the construction company’s stock valued at $1,595,000 after acquiring an additional 766 shares during the period. Lecap Asset Management Ltd. acquired a new stake in EMCOR Group during the 3rd quarter valued at approximately $970,000. Finally, HB Wealth Management LLC boosted its holdings in shares of EMCOR Group by 41.5% in the 3rd quarter. HB Wealth Management LLC now owns 2,920 shares of the construction company’s stock valued at $1,897,000 after acquiring an additional 856 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Stock Performance

EME opened at $661.18 on Tuesday. The company has a fifty day moving average of $625.50 and a two-hundred day moving average of $626.02. The stock has a market capitalization of $29.60 billion, a price-to-earnings ratio of 26.59 and a beta of 1.17. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $778.64.

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

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th will be issued a $0.40 dividend. 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 annualized dividend and a yield of 0.2%. EMCOR Group’s dividend payout ratio is 4.02%.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EME shares. DA Davidson raised their target price on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, October 8th. Wall Street Zen lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and raised their target price 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, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $692.83.

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total transaction of $897,316.50. Following the transaction, the director owned 6,140 shares in the company, valued at $4,158,130.80. This trade represents a 17.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.26% of the company’s stock.

About EMCOR Group

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.