Bank of Nova Scotia Increases Stake in EMCOR Group, Inc. (NYSE:EME)

Bank of Nova Scotia increased its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 280.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,720 shares of the construction company's stock after acquiring an additional 22,641 shares during the quarter. Bank of Nova Scotia owned approximately 0.07% of EMCOR Group worth $13,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EME. Koshinski Asset Management Inc. raised its stake in EMCOR Group by 4.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 656 shares of the construction company's stock worth $298,000 after buying an additional 26 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in EMCOR Group by 3,510.5% in the 4th quarter. Wolff Wiese Magana LLC now owns 686 shares of the construction company's stock worth $311,000 after purchasing an additional 667 shares in 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 raised its stake in EMCOR Group by 382.4% in the 4th 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 last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of EMCOR Group by 108.9% in the fourth 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 during the period. 92.59% of the stock is currently owned by institutional investors.

EMCOR Group Stock Performance

Shares of EME stock traded down $6.18 on Wednesday, reaching $383.92. 130,206 shares of the company were exchanged, compared to its average volume of 464,376. The company has a market cap of $17.46 billion, a price-to-earnings ratio of 19.50 and a beta of 1.08. The business has a 50-day moving average price of $395.09 and a 200 day moving average price of $446.72. EMCOR Group, Inc. has a 1 year low of $319.49 and a 1 year high of $545.30.

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 business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.81 billion. EMCOR Group had a return on equity of 34.99% and a net margin of 6.51%. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

EMCOR Group Dividend Announcement

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

Insider Activity

In other EMCOR Group news, CAO Maxine Lum Mauricio sold 1,250 shares of the business's stock in a transaction on Thursday, March 13th. The shares were 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 in the company, 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 legal filing with the SEC, which is available at the SEC website. Insiders own 1.26% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on EME shares. Stifel Nicolaus dropped their price objective on shares of EMCOR Group from $600.00 to $514.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. StockNews.com cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, EMCOR Group presently has a consensus rating of "Moderate Buy" and an average price target 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.