Manchester Financial Inc. Acquires New Position in EMCOR Group, Inc. $EME

Manchester Financial Inc. bought a new position in EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,551 shares of the construction company’s stock, valued at approximately $1,657,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McLean Asset Management Corp increased its position in shares of EMCOR Group by 2.8% during the second quarter. McLean Asset Management Corp now owns 700 shares of the construction company’s stock valued at $379,000 after acquiring an additional 19 shares in the last quarter. Park Place Capital Corp lifted its position in EMCOR Group by 6.9% in the 2nd quarter. Park Place Capital Corp now owns 308 shares of the construction company’s stock valued at $164,000 after acquiring an additional 20 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in EMCOR Group by 2.1% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,092 shares of the construction company’s stock valued at $584,000 after purchasing an additional 22 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of EMCOR Group by 0.7% in the 2nd quarter. NBC Securities Inc. now owns 3,170 shares of the construction company’s stock worth $1,695,000 after purchasing an additional 23 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in shares of EMCOR Group by 2.2% in the 2nd quarter. Institute for Wealth Management LLC. now owns 1,051 shares of the construction company’s stock worth $562,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

EME has been the topic of a number of research analyst reports. William Blair assumed coverage on EMCOR Group in a report on Thursday, September 11th. They set an “outperform” rating on the stock. The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $495.00 to $676.00 in a research report on Tuesday, October 7th. Stifel Nicolaus raised their price target on shares of EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a report on Monday, October 13th. 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, DA Davidson boosted their price objective on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus price target of $692.83.

EMCOR Group Stock Up 0.6%

EMCOR Group stock opened at $625.53 on Wednesday. EMCOR Group, Inc. has a 52-week low of $320.89 and a 52-week high of $778.64. The company has a market cap of $28.00 billion, a P/E ratio of 25.15 and a beta of 1.17. The business has a 50-day simple moving average of $644.86 and a two-hundred day simple moving average of $611.36.

EMCOR Group (NYSE:EME) last issued its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, hitting the consensus estimate of $6.57. The firm had revenue of $4.30 billion for 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 business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.80 EPS. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. Research analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 30th. Stockholders of record on Wednesday, October 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Wednesday, October 15th. EMCOR Group’s dividend payout ratio is 4.02%.

EMCOR Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that permits the company to repurchase $500.00 million in 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 generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,325 shares of EMCOR Group stock in a transaction 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 directly owned 6,140 shares in the company, valued at approximately $4,158,130.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.26% 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.