EMCOR Group, Inc. (NYSE:EME) Stock Position Reduced by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 99.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132 shares of the construction company's stock after selling 31,201 shares during the quarter. Point72 Hong Kong Ltd's holdings in EMCOR Group were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in shares of EMCOR Group by 34.4% in the second quarter. Acadian Asset Management LLC now owns 526,044 shares of the construction company's stock valued at $192,028,000 after buying an additional 134,575 shares in the last quarter. Panagora Asset Management Inc. grew its position in 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 acquiring an additional 126,148 shares in the last quarter. Renaissance Technologies LLC grew its position in EMCOR Group by 99.2% in the second quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company's stock valued at $85,246,000 after acquiring an additional 116,300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of EMCOR Group by 971.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company's stock worth $36,978,000 after purchasing an additional 91,837 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of EMCOR Group by 27.5% during the second quarter. AQR Capital Management LLC now owns 412,382 shares of the construction company's stock worth $150,553,000 after purchasing an additional 88,909 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Stock Up 1.0 %

Shares of NYSE:EME traded up $5.12 during trading on Wednesday, hitting $514.71. 318,793 shares of the company traded hands, compared to its average volume of 434,158. The business's fifty day moving average is $470.84 and its 200-day moving average is $410.16. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 26.14 and a beta of 1.09. EMCOR Group, Inc. has a one year low of $209.31 and a one year high of $532.38.

EMCOR Group (NYSE:EME - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $5.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $3.61 earnings per share. On average, analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Tuesday, October 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Tuesday, October 15th. EMCOR Group's dividend payout ratio (DPR) is 5.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of EMCOR Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 9th. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a research note on Friday, November 15th. They set a "buy" rating and a $600.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They issued a "sell" rating and a $445.00 target price for the company. Finally, Northcoast Research began coverage on shares of EMCOR Group in a research report on Friday, November 22nd. They set a "buy" rating and a $600.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $518.75.

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.