Mitsubishi UFJ Trust & Banking Corp Sells 10,064 Shares of EMCOR Group, Inc. $EME

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of EMCOR Group, Inc. (NYSE:EME) by 14.6% in the third quarter, HoldingsChannel reports. The firm owned 58,707 shares of the construction company’s stock after selling 10,064 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in EMCOR Group were worth $38,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Donoghue Forlines LLC bought a new stake in shares of EMCOR Group during the 3rd quarter valued at $2,221,000. B. Riley Wealth Advisors Inc. bought a new position in EMCOR Group in the 2nd quarter worth $995,000. Exchange Traded Concepts LLC purchased a new position in EMCOR Group during the third quarter valued at $528,000. Pinnbrook Capital Management LP bought a new stake in EMCOR Group during the second quarter valued at about $1,510,000. Finally, Nordea Investment Management AB increased its position in EMCOR Group by 63.8% in the second quarter. Nordea Investment Management AB now owns 395,110 shares of the construction company’s stock worth $210,278,000 after buying an additional 153,948 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Down 1.1%

NYSE EME opened at $694.95 on Monday. EMCOR Group, Inc. has a 12 month low of $320.89 and a 12 month high of $778.64. The stock has a market cap of $31.11 billion, a PE ratio of 27.94 and a beta of 1.17. The stock’s 50 day moving average is $633.37 and its 200 day moving average is $635.40.

EMCOR Group (NYSE:EME) last announced 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. 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 during the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the firm posted $5.80 EPS. The company’s revenue 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, analysts forecast 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. Shareholders of record on Wednesday, January 14th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, January 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is presently 6.43%.

EMCOR Group announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EME has been the topic of several recent research reports. The Goldman Sachs Group raised EMCOR Group from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $495.00 to $676.00 in a research note on Tuesday, October 7th. DA Davidson increased 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. Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a report on Friday, October 31st. Stifel Nicolaus upped their price target on shares of EMCOR Group from $692.00 to $718.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, EMCOR Group presently has an average rating of “Moderate Buy” and a consensus price target of $692.83.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction 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 sale, the director owned 6,140 shares in the company, valued at $4,158,130.80. The trade was a 17.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is currently owned by insiders.

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.