Renaissance Technologies LLC Has $85.25 Million Holdings in EMCOR Group, Inc. (NYSE:EME)

Renaissance Technologies LLC increased its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 99.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,500 shares of the construction company's stock after acquiring an additional 116,300 shares during the period. Renaissance Technologies LLC owned about 0.50% of EMCOR Group worth $85,246,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Eagle Bay Advisors LLC raised its stake in shares of EMCOR Group by 8.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company's stock worth $160,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of EMCOR Group by 17.2% during the 1st quarter. GAMMA Investing LLC now owns 239 shares of the construction company's stock worth $84,000 after purchasing an additional 35 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in shares of EMCOR Group by 2.2% during the 2nd 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 raised its stake in shares of EMCOR Group by 30.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company's stock worth $73,000 after purchasing an additional 47 shares in the last quarter. Finally, Cooper Financial Group raised its stake in shares of EMCOR Group by 3.7% during the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company's stock worth $485,000 after purchasing an additional 47 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson raised their price target on EMCOR Group from $410.00 to $430.00 and gave the stock a "buy" rating in a research note on Friday, July 26th.

EMCOR Group Price Performance

Shares of EME stock traded up $6.51 during trading on Tuesday, reaching $409.20. The company had a trading volume of 333,520 shares, compared to its average volume of 447,824. The firm's 50 day simple moving average is $370.09 and its two-hundred day simple moving average is $364.57. EMCOR Group, Inc. has a one year low of $191.50 and a one year high of $410.67. The company has a market capitalization of $19.23 billion, a PE ratio of 26.99 and a beta of 1.07.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data 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 return on equity of 32.73% and a net margin of 6.01%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business earned $2.95 EPS. The firm's revenue was up 20.4% compared to the same quarter last year. Analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group's payout ratio is 6.60%.

EMCOR Group announced that its board has initiated 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 reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at EMCOR Group

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,300 shares of the firm'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 value of $482,027.00. Following the sale, the director now owns 8,637 shares of the company's stock, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is owned by company insiders.

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.