TD Asset Management Inc. Reduces Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

TD Asset Management Inc. decreased its position in EMCOR Group, Inc. (NYSE:EME - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 233,831 shares of the construction company's stock after selling 15,317 shares during the quarter. TD Asset Management Inc. owned approximately 0.51% of EMCOR Group worth $106,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of EMCOR Group by 3,466.7% in the 3rd quarter. True Wealth Design LLC now owns 107 shares of the construction company's stock worth $46,000 after purchasing an additional 104 shares during the period. SJS Investment Consulting Inc. increased its holdings in EMCOR Group by 494.7% during the fourth quarter. SJS Investment Consulting Inc. now owns 113 shares of the construction company's stock valued at $51,000 after buying an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in EMCOR Group by 14.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the construction company's stock worth $90,000 after acquiring an additional 25 shares during the period. Private Trust Co. NA boosted its stake in shares of EMCOR Group by 153.6% during the 3rd quarter. Private Trust Co. NA now owns 246 shares of the construction company's stock worth $106,000 after acquiring an additional 149 shares during the last quarter. Finally, Whittier Trust Co. grew its position in shares of EMCOR Group by 40.2% during the 4th quarter. Whittier Trust Co. now owns 279 shares of the construction company's stock valued at $127,000 after acquiring an additional 80 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity

In other news, CAO Maxine Lum Mauricio sold 1,250 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $370.07, for a total transaction of $462,587.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,642 shares in the company, valued at approximately $10,229,474.94. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

EME has been the topic of a number of recent research reports. Stifel Nicolaus decreased their target price on 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 EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $497.25.

EMCOR Group Price Performance

Shares of NYSE:EME traded down $8.11 during trading on Friday, hitting $371.22. 400,389 shares of the company's stock were exchanged, compared to its average volume of 452,710. The business's 50-day simple moving average is $424.19 and its 200 day simple moving average is $451.35. The company has a market cap of $16.88 billion, a price-to-earnings ratio of 18.85 and a beta of 1.14. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30.

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

EMCOR Group declared that its board has approved a stock buyback plan on Wednesday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

EMCOR Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, January 16th. EMCOR Group's dividend payout ratio (DPR) is presently 4.64%.

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.