Toronto Dominion Bank Buys 4,528 Shares of EMCOR Group, Inc. (NYSE:EME)

Toronto Dominion Bank lifted its stake in EMCOR Group, Inc. (NYSE:EME) by 5,880.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,605 shares of the construction company’s stock after purchasing an additional 4,528 shares during the period. Toronto Dominion Bank’s holdings in EMCOR Group were worth $1,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EME. Acadian Asset Management LLC boosted its position in shares of EMCOR Group by 55.6% in the 1st quarter. Acadian Asset Management LLC now owns 391,469 shares of the construction company’s stock worth $137,074,000 after purchasing an additional 139,919 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of EMCOR Group by 155.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 207,263 shares of the construction company’s stock worth $75,668,000 after purchasing an additional 126,148 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of EMCOR Group in the 4th quarter worth $25,938,000. Renaissance Technologies LLC boosted its position in shares of EMCOR Group by 99.2% in the 2nd quarter. Renaissance Technologies LLC now owns 233,500 shares of the construction company’s stock worth $85,246,000 after purchasing an additional 116,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of EMCOR Group by 971.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 101,287 shares of the construction company’s stock worth $36,978,000 after purchasing an additional 91,837 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. DA Davidson lifted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $370.79, for a total value of $482,027.00. Following the sale, the director now directly owns 8,637 shares in the company, valued at $3,202,513.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.26% of the company’s stock.

EMCOR Group Trading Down 0.5 %

EME stock opened at $427.09 on Monday. The business’s 50-day moving average price is $379.09 and its two-hundred day moving average price is $370.20. The firm has a market cap of $20.07 billion, a PE ratio of 28.17 and a beta of 1.07. EMCOR Group, Inc. has a 1-year low of $191.50 and a 1-year high of $443.96.

EMCOR Group (NYSE:EME) last posted its earnings results on Thursday, July 25th. The construction company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $3.76 by $1.49. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 earnings per share. On average, analysts forecast that EMCOR Group, Inc. will post 19.5 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Monday, July 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. EMCOR Group’s dividend payout ratio (DPR) is 6.60%.

EMCOR Group announced that its Board of Directors has approved a share repurchase plan on Friday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.