Point72 DIFC Ltd Makes New Investment in EMCOR Group, Inc. (NYSE:EME)

Point72 DIFC Ltd purchased a new position in EMCOR Group, Inc. (NYSE:EME) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,546 shares of the construction company’s stock, valued at approximately $929,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC lifted its holdings in EMCOR Group by 8.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock valued at $160,000 after purchasing an additional 34 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of EMCOR Group by 17.2% in the first quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock worth $84,000 after acquiring an additional 35 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of EMCOR Group by 2.2% during the second quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock worth $787,000 after purchasing an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of EMCOR Group by 30.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock valued at $73,000 after purchasing an additional 47 shares during the last quarter. Finally, Cooper Financial Group increased its holdings in shares of EMCOR Group by 3.7% in the second quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock valued at $485,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the sale, the director now owns 8,637 shares in the company, valued at approximately $3,202,513.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.26% of the company’s stock.

EMCOR Group Trading Up 0.4 %

EME opened at $435.23 on Thursday. The firm’s fifty day simple moving average is $376.53 and its 200 day simple moving average is $368.69. EMCOR Group, Inc. has a 12 month low of $191.50 and a 12 month high of $442.15. The stock has a market capitalization of $20.45 billion, a P/E ratio of 28.71 and a beta of 1.07.

EMCOR Group (NYSE:EME) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the business earned $2.95 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that EMCOR Group, Inc. will post 19.5 EPS for the current fiscal year.

EMCOR Group announced that its Board of Directors has authorized a share buyback plan on Friday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

EMCOR Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date was Monday, July 15th. EMCOR Group’s dividend payout ratio is 6.60%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. DA Davidson boosted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th.

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.