TimesSquare Capital Management LLC Grows Stake in EMCOR Group, Inc. (NYSE:EME)

TimesSquare Capital Management LLC increased its stake in EMCOR Group, Inc. (NYSE:EME) by 93.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 426,083 shares of the construction company’s stock after buying an additional 205,793 shares during the quarter. EMCOR Group comprises 1.4% of TimesSquare Capital Management LLC’s portfolio, making the stock its 17th largest position. TimesSquare Capital Management LLC’s holdings in EMCOR Group were worth $91,791,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EME. Allworth Financial LP increased its position in shares of EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock worth $29,000 after acquiring an additional 62 shares during the last quarter. CVA Family Office LLC bought a new position in EMCOR Group during the 4th quarter valued at $39,000. Cullen Frost Bankers Inc. bought a new stake in shares of EMCOR Group in the 3rd quarter worth about $42,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of EMCOR Group by 182.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 195 shares of the construction company’s stock valued at $42,000 after purchasing an additional 126 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new position in shares of EMCOR Group in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

EME has been the subject of a number of research reports. KeyCorp initiated coverage on shares of EMCOR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. DA Davidson reiterated a “buy” rating and set a $375.00 price target on shares of EMCOR Group in a research report on Friday, March 22nd.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total transaction of $1,917,900.00. Following the sale, the chief executive officer now owns 219,023 shares in the company, valued at approximately $70,010,701.95. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

EMCOR Group Trading Up 0.8 %

EME traded up $2.85 on Thursday, reaching $382.28. The company had a trading volume of 286,120 shares, compared to its average volume of 427,913. The company has a fifty day moving average of $344.38 and a 200-day moving average of $265.09. The company has a market capitalization of $17.97 billion, a P/E ratio of 25.21 and a beta of 1.07. EMCOR Group, Inc. has a one year low of $161.49 and a one year high of $383.98.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $1.25. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. The firm had revenue of $3.43 billion during the quarter. Research analysts predict that EMCOR Group, Inc. will post 16.1 EPS for the current year.

EMCOR Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 15th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s dividend payout ratio is currently 6.60%.

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.