Axa S.A. Buys 16,466 Shares of EMCOR Group, Inc. (NYSE:EME)

Axa S.A. grew its position in EMCOR Group, Inc. (NYSE:EME) by 82.5% during the second quarter, HoldingsChannel reports. The firm owned 36,418 shares of the construction company’s stock after buying an additional 16,466 shares during the quarter. Axa S.A.’s holdings in EMCOR Group were worth $13,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC grew its stake in EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock valued at $137,074,000 after buying an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of EMCOR Group by 155.5% in the second quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock valued at $75,668,000 after purchasing an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of EMCOR Group in the fourth quarter worth about $25,938,000. Renaissance Technologies LLC lifted its position in shares of EMCOR Group by 99.2% during the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in EMCOR Group by 971.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock valued at $36,978,000 after purchasing an additional 91,837 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction dated 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 directly owns 8,637 shares in the company, valued at approximately $3,202,513.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Stock Performance

NYSE EME opened at $427.29 on Friday. EMCOR Group, Inc. has a twelve month low of $191.50 and a twelve month high of $443.96. The stock has a market cap of $20.08 billion, a PE ratio of 28.19 and a beta of 1.07. The firm has a 50-day simple moving average of $377.82 and a 200 day simple moving average of $369.11.

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

EMCOR Group announced that its board has authorized a stock repurchase plan on Friday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.60%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EME shares. StockNews.com raised EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. DA Davidson boosted 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.

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.