Point72 Hong Kong Ltd Buys 5,822 Shares of EMCOR Group, Inc. (NYSE:EME)

Point72 Hong Kong Ltd raised its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 4,410.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,954 shares of the construction company’s stock after purchasing an additional 5,822 shares during the period. Point72 Hong Kong Ltd’s holdings in EMCOR Group were worth $2,702,000 as of its most recent filing with the Securities & Exchange Commission.

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

EMCOR Group Trading Down 0.5%

Shares of NYSE EME opened at $464.28 on Friday. The firm’s 50-day moving average price is $396.92 and its 200-day moving average price is $442.95. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 23.58 and a beta of 1.18. EMCOR Group, Inc. has a 12-month low of $319.49 and a 12-month high of $545.30.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company posted $4.17 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is currently 4.42%.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus decreased their target price 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $494.50.

Insider Buying and Selling

In related news, CEO Anthony Guzzi sold 7,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer now directly owns 208,989 shares of the company’s stock, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robin A. Walker-Lee sold 947 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the sale, the director now directly owns 7,094 shares in the company, valued at $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,197 shares of company stock valued at $3,905,748 in the last ninety days. 0.83% of the stock is owned by company insiders.

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.