1,780 Shares in EMCOR Group, Inc. (NYSE:EME) Bought by Bank of Nova Scotia

Bank of Nova Scotia acquired a new position in shares of EMCOR Group, Inc. (NYSE:EME – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,780 shares of the construction company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EME. Zions Bancorporation N.A. bought a new position in EMCOR Group during the first quarter worth $26,000. Parkside Financial Bank & Trust boosted its position in shares of EMCOR Group by 66.2% in the first quarter. Parkside Financial Bank & Trust now owns 251 shares of the construction company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of EMCOR Group in the fourth quarter valued at about $31,000. Brown Brothers Harriman & Co. bought a new stake in shares of EMCOR Group in the first quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of EMCOR Group in the fourth quarter valued at about $37,000. 93.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other EMCOR Group news, EVP R Kevin Matz sold 13,462 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $165.46, for a total transaction of $2,227,422.52. Following the completion of the transaction, the executive vice president now owns 191,709 shares of the company’s stock, valued at $31,720,171.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP R Kevin Matz sold 13,462 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $165.46, for a total value of $2,227,422.52. Following the completion of the transaction, the executive vice president now owns 191,709 shares of the company’s stock, valued at $31,720,171.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Guzzi sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $165.52, for a total value of $1,820,720.00. Following the completion of the transaction, the chief executive officer now directly owns 257,655 shares of the company’s stock, valued at approximately $42,647,055.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,462 shares of company stock valued at $8,298,143. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EME. StockNews.com began coverage on shares of EMCOR Group in a research report on Thursday, May 18th. They issued a “strong-buy” rating for the company. DA Davidson boosted their target price on shares of EMCOR Group from $165.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, February 24th.

EMCOR Group Stock Up 3.6 %

EME stock opened at $167.48 on Friday. The company has a market cap of $7.99 billion, a PE ratio of 18.40 and a beta of 1.09. The business has a 50-day simple moving average of $161.38 and a 200 day simple moving average of $154.92. EMCOR Group, Inc. has a 52 week low of $95.64 and a 52 week high of $174.05. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.16.

EMCOR Group (NYSE:EME – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The construction company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.49. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.87 billion. EMCOR Group had a return on equity of 22.68% and a net margin of 3.91%. EMCOR Group’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. Sell-side analysts anticipate that EMCOR Group, Inc. will post 9.74 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Monday, April 17th were paid a dividend of $0.18 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, April 14th. This represents a $0.72 annualized dividend and a yield of 0.43%. EMCOR Group’s payout ratio is presently 7.91%.

EMCOR Group Company Profile

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EMCOR Group, Inc engages in the provision of electrical and mechanical construction, and facilities services. It operates through the following segments: United States Electrical Construction and Facilities Services, United States Mechanical Construction and Facilities Services, United States Building Services, United States Industrial Services, and United Kingdom Building Services.