EMCOR Group, Inc. (NYSE:EME) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 634.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,011 shares of the construction company’s stock after purchasing an additional 35,428 shares during the period. Hsbc Holdings PLC owned 0.09% of EMCOR Group worth $15,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of EME. Acadian Asset Management LLC raised its position in shares of EMCOR Group by 55.6% during the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in EMCOR Group by 155.5% in the 2nd 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 during the last quarter. Hennessy Advisors Inc. acquired a new stake in EMCOR Group in the 4th quarter valued at about $25,938,000. Renaissance Technologies LLC raised its holdings in EMCOR Group by 99.2% in the 2nd 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 during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in EMCOR Group by 971.8% in 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 acquiring an additional 91,837 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME opened at $435.60 on Monday. The company has a 50 day simple moving average of $373.10 and a 200-day simple moving average of $366.69. The company has a market capitalization of $20.47 billion, a P/E ratio of 28.73 and a beta of 1.07. EMCOR Group, Inc. has a 1 year low of $191.50 and a 1 year high of $437.10.

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

EMCOR Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio is currently 6.60%.

EMCOR Group declared that its board has authorized a share buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on EME shares. StockNews.com downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson increased 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 Buying and Selling

In related news, Director Robin A. Walker-Lee sold 1,300 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

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.