TimesSquare Capital Management LLC Acquires 41,110 Shares of Emcor Group Inc (NYSE:EME)
TimesSquare Capital Management LLC increased its holdings in Emcor Group Inc (NYSE:EME) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,044,610 shares of the construction company’s stock after purchasing an additional 41,110 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Emcor Group were worth $89,962,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Texas Permanent School Fund grew its stake in shares of Emcor Group by 0.4% in the third quarter. Texas Permanent School Fund now owns 38,208 shares of the construction company’s stock worth $3,290,000 after purchasing an additional 139 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Emcor Group by 42.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 600 shares of the construction company’s stock worth $53,000 after purchasing an additional 180 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Emcor Group by 5.1% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,364 shares of the construction company’s stock valued at $376,000 after buying an additional 212 shares during the period. King Luther Capital Management Corp lifted its holdings in Emcor Group by 0.5% in the second quarter. King Luther Capital Management Corp now owns 45,473 shares of the construction company’s stock valued at $4,006,000 after buying an additional 233 shares during the period. Finally, Bridge City Capital LLC lifted its holdings in Emcor Group by 0.5% in the second quarter. Bridge City Capital LLC now owns 52,425 shares of the construction company’s stock valued at $4,619,000 after buying an additional 257 shares during the period. 92.42% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on EME. Maxim Group restated a “hold” rating and issued a $95.00 target price on shares of Emcor Group in a report on Thursday, October 31st. ValuEngine lowered shares of Emcor Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. DA Davidson boosted their target price on shares of Emcor Group to $107.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus boosted their target price on shares of Emcor Group from $93.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $98.50.
Emcor Group (NYSE:EME) last released its earnings results on Tuesday, October 29th. The construction company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.17 billion. Emcor Group had a net margin of 3.51% and a return on equity of 17.11%. Emcor Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, equities analysts anticipate that Emcor Group Inc will post 5.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Friday, October 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $0.32 annualized dividend and a yield of 0.36%. Emcor Group’s payout ratio is 6.52%.
About Emcor Group
EMCOR Group, Inc provides electrical and mechanical construction, and facilities services in the United States. The company designs, integrates, installs, starts-up, operates, and maintains electric power transmission and distribution systems; premises electrical and lighting systems; process instrumentation in the refining, chemical and food processing, and mining industries; low-voltage, voice and data communications, fire protection, water and wastewater treatment, controls and filtration, central plant heating and cooling, plumbing, process, and piping systems; roadway and transit lighting, and fiber-optic lines; and heating, ventilation, air conditioning, refrigeration, and clean-room process ventilation systems, as well as offers crane, rigging, and millwright; and steel fabrication, erection, and welding services.
Featured Story: Why do companies issue stock splits?
Want to see what other hedge funds are holding EME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Emcor Group Inc (NYSE:EME).
Receive News & Ratings for Emcor Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Emcor Group and related companies with MarketBeat.com's FREE daily email newsletter.