OLD National Bancorp IN Acquires New Holdings in EMCOR Group, Inc. $EME

OLD National Bancorp IN acquired a new stake in EMCOR Group, Inc. (NYSE:EME) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 449 shares of the construction company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BankPlus Trust Department raised its holdings in EMCOR Group by 200.0% in the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company’s stock valued at $27,000 after buying an additional 48 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in EMCOR Group in the 1st quarter valued at about $28,000. Hazlett Burt & Watson Inc. purchased a new stake in EMCOR Group in the 1st quarter valued at about $30,000. Groupe la Francaise increased its stake in EMCOR Group by 79.2% during the first quarter. Groupe la Francaise now owns 86 shares of the construction company’s stock worth $33,000 after purchasing an additional 38 shares during the period. Finally, Pandora Wealth Inc. purchased a new stake in EMCOR Group during the first quarter worth about $37,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on EME shares. UBS Group set a $750.00 price target on shares of EMCOR Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Jefferies Financial Group started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set a “buy” rating on the stock. Zacks Research upgraded shares of EMCOR Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 12th. The Goldman Sachs Group upgraded shares of EMCOR Group from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $495.00 to $676.00 in a research note on Tuesday. Finally, Robert W. Baird started coverage on shares of EMCOR Group in a research note on Friday, June 27th. They set an “outperform” rating and a $560.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, EMCOR Group presently has an average rating of “Moderate Buy” and an average price target of $634.67.

EMCOR Group Stock Up 3.2%

EME stock opened at $694.93 on Thursday. The company’s 50 day moving average price is $629.93 and its 200 day moving average price is $522.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.18. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $695.40. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 28.84 and a beta of 1.24.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 31st. The construction company reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $5.68 by $1.04. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm earned $5.25 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. EMCOR Group has set its FY 2025 guidance at 24.500-25.750 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, October 30th. Shareholders of record on Wednesday, October 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, October 15th. EMCOR Group’s dividend payout ratio is currently 4.15%.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; 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.