TD Waterhouse Canada Inc. Boosts Stake in EMCOR Group, Inc. $EME

TD Waterhouse Canada Inc. grew its stake in EMCOR Group, Inc. (NYSE:EME) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,593 shares of the construction company’s stock after acquiring an additional 910 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in EMCOR Group were worth $8,259,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EME. Quent Capital LLC bought a new stake in EMCOR Group during the third quarter valued at about $29,000. Orion Capital Management LLC purchased a new stake in shares of EMCOR Group during the third quarter valued at about $31,000. Tobam lifted its position in shares of EMCOR Group by 1,900.0% during the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after buying an additional 76 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of EMCOR Group in the 2nd quarter valued at about $43,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of EMCOR Group by 37.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock worth $59,000 after buying an additional 30 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Robert W. Baird set a $713.00 price target on EMCOR Group in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a report on Wednesday, January 21st. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Stifel Nicolaus upped their target price on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $698.83.

EMCOR Group Stock Performance

Shares of EME opened at $729.76 on Friday. The stock has a 50-day moving average of $642.70 and a two-hundred day moving average of $638.93. The stock has a market cap of $32.67 billion, a P/E ratio of 29.34 and a beta of 1.17. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $778.64.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $6.57. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the business posted $5.80 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

EMCOR Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total value of $897,316.50. Following the sale, the director directly owned 6,140 shares of the company’s stock, valued at $4,158,130.80. This represents a 17.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.83% of the company’s stock.

EMCOR Group Profile

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.