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

Point72 Hong Kong Ltd grew its stake in EMCOR Group, Inc. (NYSE:EME) by 4,410.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,954 shares of the construction company’s stock after acquiring an additional 5,822 shares during the period. Point72 Hong Kong Ltd’s holdings in EMCOR Group were worth $2,702,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EME. Summit Securities Group LLC bought a new position in EMCOR Group in the 4th quarter worth about $45,000. SJS Investment Consulting Inc. boosted 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 valued at $51,000 after purchasing an additional 94 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 valued at $90,000 after purchasing an additional 25 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of EMCOR Group by 2,063.6% during the fourth quarter. Altshuler Shaham Ltd now owns 238 shares of the construction company’s stock valued at $108,000 after purchasing an additional 227 shares in the last quarter. Finally, GeoWealth Management LLC boosted its stake in shares of EMCOR Group by 12.4% during the fourth quarter. GeoWealth Management LLC now owns 253 shares of the construction company’s stock valued at $115,000 after purchasing an additional 28 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EME shares. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $494.50.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 7,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 208,989 shares of the company’s stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares of the company’s stock, valued at approximately $10,229,474.94. This represents a 4.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,197 shares of company stock valued at $3,905,748. Insiders own 0.83% of the company’s stock.

EMCOR Group Stock Down 0.5%

Shares of EME opened at $464.28 on Friday. The company has a market cap of $20.78 billion, a price-to-earnings ratio of 23.58 and a beta of 1.18. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The company has a 50 day moving average of $396.92 and a two-hundred day moving average of $442.95.

EMCOR Group (NYSE:EME) last announced its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. EMCOR Group’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $4.17 earnings per share. On average, sell-side analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group declared that its board has initiated a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.