XTX Topco Ltd Increases Position in EMCOR Group, Inc. (NYSE:EME)

XTX Topco Ltd lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 168.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,543 shares of the construction company’s stock after buying an additional 2,225 shares during the quarter. XTX Topco Ltd’s holdings in EMCOR Group were worth $1,293,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EME. Norges Bank purchased a new position in shares of EMCOR Group in the fourth quarter valued at about $153,739,000. Burgundy Asset Management Ltd. lifted its holdings in EMCOR Group by 1.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 691,381 shares of the construction company’s stock worth $242,122,000 after purchasing an additional 11,479 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in EMCOR Group by 34.4% in the 2nd quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company’s stock worth $192,028,000 after purchasing an additional 134,575 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in EMCOR Group by 20.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 434,523 shares of the construction company’s stock worth $152,170,000 after purchasing an additional 73,975 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock valued at $85,246,000 after buying an additional 116,300 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EME. DA Davidson upped their target price on shares of 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 cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday.

EMCOR Group Price Performance

NYSE EME opened at $435.69 on Friday. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $437.10. The business has a 50 day simple moving average of $373.10 and a two-hundred day simple moving average of $366.11. The stock has a market capitalization of $20.48 billion, a PE ratio of 28.74 and a beta of 1.07.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the firm posted $2.95 earnings per share. EMCOR Group’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts anticipate 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 stock buyback plan on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

EMCOR Group Dividend Announcement

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

EMCOR Group 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.