TimesSquare Capital Management LLC Has $171.63 Million Holdings in EMCOR Group, Inc. $EME

TimesSquare Capital Management LLC lowered its holdings in EMCOR Group, Inc. (NYSE:EME) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,237 shares of the construction company’s stock after selling 16,245 shares during the quarter. EMCOR Group accounts for about 2.5% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its biggest position. TimesSquare Capital Management LLC owned about 0.59% of EMCOR Group worth $171,633,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EME. Quent Capital LLC bought a new stake in shares of EMCOR Group in the 3rd quarter valued at approximately $29,000. Orion Capital Management LLC bought a new stake in EMCOR Group in the third quarter valued at $31,000. Tobam grew its position in EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in EMCOR Group during the second quarter worth $43,000. Finally, True Wealth Design LLC increased its position in shares of EMCOR Group by 333.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock worth $59,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

EME has been the topic of several recent analyst reports. DA Davidson boosted their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus lifted their price objective on EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research lowered EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Robert W. Baird set a $713.00 price target on shares of EMCOR Group in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, EMCOR Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $698.83.

EMCOR Group Stock Up 2.2%

NYSE:EME opened at $800.50 on Friday. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $835.00. The stock’s fifty day simple moving average is $675.01 and its 200-day simple moving average is $652.95. The firm has a market capitalization of $35.84 billion, a P/E ratio of 32.19 and a beta of 1.17.

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

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were issued a dividend of $0.40 per share. This is an increase from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, January 14th. EMCOR Group’s dividend payout ratio is presently 6.43%.

EMCOR Group Company 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.