Point72 Asset Management L.P. Acquires Shares of 3,629 EMCOR Group, Inc. (NYSE:EME)

Point72 Asset Management L.P. acquired a new stake in EMCOR Group, Inc. (NYSE:EME - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,629 shares of the construction company's stock, valued at approximately $1,647,000.

A number of other hedge funds also recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in EMCOR Group in the 4th quarter valued at about $45,000. SJS Investment Consulting Inc. increased its stake in shares of EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock worth $51,000 after purchasing an additional 94 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of EMCOR Group by 14.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after purchasing an additional 25 shares during the period. Altshuler Shaham Ltd lifted its holdings in EMCOR Group by 2,063.6% during the 4th quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company's stock worth $108,000 after purchasing an additional 227 shares during the last quarter. Finally, GeoWealth Management LLC boosted its stake in EMCOR Group by 12.4% in the 4th quarter. GeoWealth Management LLC now owns 253 shares of the construction company's stock valued at $115,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of EMCOR Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total value of $462,587.50. Following the transaction, the chief accounting officer now directly owns 27,642 shares of the company's stock, valued at $10,229,474.94. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robin A. Walker-Lee sold 947 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the transaction, the director now owns 7,094 shares of the company's stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,197 shares of company stock worth $3,905,748. 1.26% of the stock is currently owned by corporate insiders.

EMCOR Group Price Performance

EMCOR Group stock opened at $464.24 on Thursday. The firm has a market cap of $20.78 billion, a PE ratio of 23.58 and a beta of 1.18. The stock's fifty day moving average price is $404.11 and its two-hundred day moving average price is $443.71. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, topping analysts' consensus estimates of $4.57 by $0.84. The company had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. EMCOR Group's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $4.17 earnings per share. Sell-side analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Thursday, April 17th. EMCOR Group's payout ratio is presently 4.42%.

Analyst Ratings Changes

Several research firms have weighed in on EME. StockNews.com cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, EMCOR Group has a consensus rating of "Moderate Buy" and an average target price of $494.50.

EMCOR Group Company Profile

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.

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