Creative Planning Raises Position in EMCOR Group, Inc. (NYSE:EME)

Posted by Defense World Staff on Oct 14th, 2023

Creative Planning lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME – Free Report) by 67.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,980 shares of the construction company’s stock after purchasing an additional 2,804 shares during the period. Creative Planning’s holdings in EMCOR Group were worth $1,290,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of EMCOR Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 6,152,648 shares of the construction company’s stock worth $1,000,359,000 after purchasing an additional 47,507 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in EMCOR Group by 2.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,565,326 shares of the construction company’s stock valued at $579,687,000 after buying an additional 82,360 shares in the last quarter. FMR LLC grew its stake in EMCOR Group by 50.6% in the 1st quarter. FMR LLC now owns 2,262,285 shares of the construction company’s stock valued at $367,825,000 after buying an additional 760,499 shares in the last quarter. State Street Corp grew its stake in EMCOR Group by 3.6% in the 1st quarter. State Street Corp now owns 1,744,930 shares of the construction company’s stock valued at $196,531,000 after buying an additional 61,165 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in EMCOR Group by 562.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 978,137 shares of the construction company’s stock valued at $24,087,000 after buying an additional 830,522 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.

EMCOR Group Stock Down 2.3 %

EMCOR Group stock opened at $201.99 on Friday. The firm has a 50 day simple moving average of $215.68 and a 200 day simple moving average of $188.64. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 20.08 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.11. EMCOR Group, Inc. has a 1-year low of $121.44 and a 1-year high of $227.49.

EMCOR Group (NYSE:EME – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.58. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.01 billion. EMCOR Group had a net margin of 4.13% and a return on equity of 24.20%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.99 EPS. On average, analysts predict that EMCOR Group, Inc. will post 10.97 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, October 16th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.36%. EMCOR Group’s dividend payout ratio (DPR) is currently 7.16%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of EMCOR Group in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company.

Get Our Latest Stock Analysis on EMCOR Group

Insider Transactions at EMCOR Group

In other news, CEO Anthony Guzzi sold 11,000 shares of EMCOR Group stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $196.37, for a total transaction of $2,160,070.00. Following the completion of the sale, the chief executive officer now directly owns 224,722 shares of the company’s stock, valued at approximately $44,128,659.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

About EMCOR Group

(Free Report)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.