KLP Kapitalforvaltning AS Sells 900 Shares of EMCOR Group, Inc. $EME

KLP Kapitalforvaltning AS trimmed its position in EMCOR Group, Inc. (NYSE:EME) by 1.7% in the 3rd quarter, Holdings Channel reports. The firm owned 51,000 shares of the construction company’s stock after selling 900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in EMCOR Group were worth $33,127,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of EMCOR Group in the second quarter worth about $995,000. Exchange Traded Concepts LLC bought a new position in EMCOR Group during the 3rd quarter worth approximately $528,000. Pinnbrook Capital Management LP purchased a new position in EMCOR Group in the 2nd quarter worth approximately $1,510,000. Nordea Investment Management AB increased its stake in 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 purchasing an additional 153,948 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in EMCOR Group by 4.4% in the second quarter. Nomura Asset Management Co. Ltd. now owns 21,345 shares of the construction company’s stock valued at $11,417,000 after purchasing an additional 894 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EME. The Goldman Sachs Group raised shares of EMCOR Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $495.00 to $676.00 in a research note on Tuesday, October 7th. Stifel Nicolaus raised 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. Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, October 8th. Robert W. Baird set a $713.00 price objective on EMCOR Group in a report on Friday, October 31st. Finally, Wall Street Zen cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, EMCOR Group has an average rating of “Moderate Buy” and a consensus target price of $692.83.

EMCOR Group Price Performance

Shares of EMCOR Group stock opened at $651.43 on Thursday. The firm’s 50-day moving average is $626.73 and its 200 day moving average is $622.16. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year high of $778.64. The stock has a market cap of $29.16 billion, a price-to-earnings ratio of 26.19 and a beta of 1.17.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $6.57 earnings per share for the quarter, meeting the consensus estimate of $6.57. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.27 billion. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.80 earnings per share. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. On average, equities analysts expect that EMCOR Group, Inc. will post 20.74 EPS 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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, January 14th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is 4.02%.

EMCOR Group announced that its Board of Directors 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 purchase up to 1.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the business’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 transaction of $897,316.50. Following the completion of the transaction, the director directly owned 6,140 shares of the company’s stock, valued at $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 available at the SEC website. 0.83% of the stock is owned by corporate insiders.

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.