Renaissance Technologies LLC Sells 51,155 Shares of EMCOR Group, Inc. (NYSE:EME)

Renaissance Technologies LLC lowered its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 33.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,520 shares of the construction company's stock after selling 51,155 shares during the period. Renaissance Technologies LLC owned about 0.23% of EMCOR Group worth $46,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EME. Koshinski Asset Management Inc. increased its stake in EMCOR Group by 4.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company's stock worth $298,000 after acquiring an additional 26 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in EMCOR Group by 3,510.5% during the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company's stock worth $311,000 after buying an additional 667 shares during the last quarter. PFW Advisors LLC purchased a new stake in shares of EMCOR Group during the fourth quarter valued at $689,000. Central Pacific Bank Trust Division increased its stake in shares of EMCOR Group by 382.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 1,833 shares of the construction company's stock worth $832,000 after acquiring an additional 1,453 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of EMCOR Group by 108.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,389 shares of the construction company's stock valued at $7,439,000 after purchasing an additional 8,545 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Insiders Place Their Bets

In related news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $370.07, for a total value of $462,587.50. Following the completion of the transaction, the chief accounting officer now owns 27,642 shares of the company's stock, valued at $10,229,474.94. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.26% of the company's stock.

EMCOR Group Stock Performance

Shares of NYSE:EME traded down $8.46 during trading on Wednesday, reaching $381.64. The company had a trading volume of 139,107 shares, compared to its average volume of 464,391. EMCOR Group, Inc. has a twelve month low of $319.49 and a twelve month high of $545.30. The firm has a market capitalization of $17.35 billion, a PE ratio of 19.38 and a beta of 1.08. The firm's fifty day moving average is $395.09 and its 200 day moving average is $446.72.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The construction company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.53 by $0.79. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. Equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. EMCOR Group's dividend payout ratio is 4.64%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EME shares. StockNews.com downgraded EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Stifel Nicolaus reduced their price objective on EMCOR Group from $600.00 to $514.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $497.25.

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.