Point72 DIFC Ltd Acquires New Stake in EMCOR Group, Inc. (NYSE:EME)

Point72 DIFC Ltd acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,546 shares of the construction company’s stock, valued at approximately $929,000.

A number of other hedge funds have also bought and sold shares of EME. Matrix Trust Co bought a new position in EMCOR Group during the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. bought a new position in shares of EMCOR Group during the second quarter valued at about $27,000. Innealta Capital LLC bought a new position in shares of EMCOR Group during the second quarter valued at about $29,000. ORG Partners LLC purchased a new position in EMCOR Group during the second quarter worth about $31,000. Finally, Independence Bank of Kentucky bought a new stake in EMCOR Group in the 1st quarter worth about $33,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the topic of several recent analyst reports. StockNews.com cut shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. DA Davidson upped their price objective on shares of EMCOR Group from $410.00 to $430.00 and gave the company a “buy” rating in a report on Friday, July 26th.

Insider Activity at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of EMCOR Group stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $370.79, for a total value 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 filing with the SEC, which is available through this link. 1.26% of the stock is currently owned by company insiders.

EMCOR Group Trading Up 0.4 %

EMCOR Group stock opened at $435.23 on Thursday. The firm’s 50 day simple moving average is $376.53 and its 200 day simple moving average is $368.69. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $442.15. The firm has a market capitalization of $20.45 billion, a PE ratio of 28.71 and a beta of 1.07.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. EMCOR Group’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.95 EPS. Research analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend 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 declared that its Board of Directors has initiated a share buyback plan on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.