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

TD Asset Management Inc grew its stake in EMCOR Group, Inc. (NYSE:EME) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 271,888 shares of the construction company’s stock after purchasing an additional 17,043 shares during the quarter. TD Asset Management Inc owned about 0.61% of EMCOR Group worth $176,602,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in EMCOR Group by 17.6% in the third quarter. Vanguard Group Inc. now owns 5,332,636 shares of the construction company’s stock valued at $3,463,760,000 after buying an additional 798,975 shares during the period. Norges Bank acquired a new stake in shares of EMCOR Group in the 2nd quarter valued at approximately $344,548,000. Burgundy Asset Management Ltd. boosted its stake in EMCOR Group by 2.9% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 530,457 shares of the construction company’s stock worth $283,736,000 after acquiring an additional 14,935 shares during the last quarter. Nordea Investment Management AB grew its holdings in EMCOR Group by 3.1% during the third quarter. Nordea Investment Management AB now owns 407,292 shares of the construction company’s stock valued at $262,206,000 after purchasing an additional 12,182 shares during the period. Finally, American Century Companies Inc. increased its stake in EMCOR Group by 40.2% in the second quarter. American Century Companies Inc. now owns 349,517 shares of the construction company’s stock valued at $186,953,000 after purchasing an additional 100,144 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in 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 target price on EMCOR Group in a report on Friday, October 31st. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus raised their price target on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Price Performance

EME opened at $800.62 on Thursday. The business’s 50-day moving average price is $703.51 and its two-hundred day moving average price is $662.81. EMCOR Group, Inc. has a 1 year low of $320.89 and a 1 year 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.

EMCOR Group announced that its Board of Directors has approved a share buyback program on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date was 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 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.