EMCOR Group, Inc. (NYSE:EME) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank increased its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 198.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,874 shares of the construction company's stock after purchasing an additional 11,882 shares during the quarter. Toronto Dominion Bank's holdings in EMCOR Group were worth $8,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its position in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after buying an additional 288,765 shares during the period. Select Equity Group L.P. boosted its holdings in EMCOR Group by 1.6% in the fourth quarter. Select Equity Group L.P. now owns 1,064,003 shares of the construction company's stock valued at $482,951,000 after purchasing an additional 16,563 shares during the period. Geode Capital Management LLC boosted its holdings in EMCOR Group by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,022,170 shares of the construction company's stock valued at $463,320,000 after purchasing an additional 25,502 shares during the period. Norges Bank acquired a new position in EMCOR Group during the 4th quarter worth $299,855,000. Finally, Northern Trust Corp increased its holdings in EMCOR Group by 22.9% during the 4th quarter. Northern Trust Corp now owns 550,883 shares of the construction company's stock worth $250,046,000 after purchasing an additional 102,738 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on EME shares. Stifel Nicolaus cut their price target on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut shares of EMCOR Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $494.50.

Insider Activity at EMCOR Group

In related news, CEO Anthony Guzzi sold 7,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly owns 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Maxine Lum Mauricio sold 1,250 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $370.07, for a total transaction of $462,587.50. Following the sale, the chief accounting officer now directly owns 27,642 shares of the company's stock, valued at approximately $10,229,474.94. The trade was a 4.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,197 shares of company stock valued at $3,905,748. Company insiders own 0.83% of the company's stock.

EMCOR Group Trading Up 0.6%

Shares of EMCOR Group stock traded up $2.94 on Friday, reaching $471.20. 807,378 shares of the stock were exchanged, compared to its average volume of 455,944. EMCOR Group, Inc. has a 1-year low of $319.49 and a 1-year high of $545.30. The business has a fifty day moving average price of $413.49 and a two-hundred day moving average price of $441.77. The firm has a market capitalization of $21.09 billion, a PE ratio of 23.93 and a beta of 1.18.

EMCOR Group (NYSE:EME - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $4.17 EPS. Research analysts expect that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Thursday, April 17th. EMCOR Group's payout ratio is 4.42%.

EMCOR Group declared that its board has approved a share repurchase program on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 2.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

About EMCOR Group

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.