TD Asset Management Inc Has $176.60 Million Position in EMCOR Group, Inc. $EME

TD Asset Management Inc grew its holdings in shares of EMCOR Group, Inc. (NYSE:EME) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,888 shares of the construction company’s stock after buying an additional 17,043 shares during the quarter. TD Asset Management Inc’s holdings in EMCOR Group were worth $176,602,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Signaturefd LLC raised its holdings in EMCOR Group by 3.0% during the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock worth $362,000 after acquiring an additional 16 shares in the last quarter. Woodward Diversified Capital LLC increased its position in shares of EMCOR Group by 2.4% during the 3rd quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock worth $494,000 after purchasing an additional 18 shares during the last quarter. Cornerstone Investment Partners LLC increased its position in shares of EMCOR Group by 0.9% during the 3rd quarter. Cornerstone Investment Partners LLC now owns 1,938 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 18 shares during the last quarter. Altus Wealth Group LLC raised its stake in shares of EMCOR Group by 1.4% during the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock worth $971,000 after purchasing an additional 20 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in shares of EMCOR Group by 0.7% in the 3rd quarter. Prospera Financial Services Inc now owns 2,769 shares of the construction company’s stock valued at $1,799,000 after buying an additional 20 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Stifel Nicolaus boosted their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Robert W. Baird set a $713.00 target price on shares of EMCOR Group in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. Finally, DA Davidson upped their price objective on EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Performance

Shares of EME stock opened at $800.62 on Thursday. EMCOR Group, Inc. has a 52 week low of $320.89 and a 52 week high of $835.00. The company has a market capitalization of $35.84 billion, a price-to-earnings ratio of 32.19 and a beta of 1.17. The company has a 50-day simple moving average of $703.51 and a 200 day simple moving average of $662.81.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th were issued a dividend of $0.40 per share. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s dividend payout ratio is presently 6.43%.

EMCOR Group announced that its board has authorized a stock buyback program on Thursday, December 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

About EMCOR Group

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.