TimesSquare Capital Management LLC Sells 16,245 Shares of EMCOR Group, Inc. $EME

TimesSquare Capital Management LLC reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 5.8% in the 3rd quarter, Holdings Channel reports. The fund owned 264,237 shares of the construction company’s stock after selling 16,245 shares during the quarter. EMCOR Group accounts for 2.5% of TimesSquare Capital Management LLC’s portfolio, making the stock its biggest position. TimesSquare Capital Management LLC’s holdings in EMCOR Group were worth $171,633,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. HighTower Advisors LLC increased its stake in EMCOR Group by 22.5% during the 3rd quarter. HighTower Advisors LLC now owns 37,565 shares of the construction company’s stock worth $24,400,000 after purchasing an additional 6,904 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of EMCOR Group by 146.7% during the third quarter. Aberdeen Group plc now owns 6,764 shares of the construction company’s stock worth $4,382,000 after acquiring an additional 4,022 shares during the period. Naviter Wealth LLC lifted its position in EMCOR Group by 17.3% in the 3rd quarter. Naviter Wealth LLC now owns 610 shares of the construction company’s stock valued at $396,000 after acquiring an additional 90 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its stake in EMCOR Group by 2.3% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 60,546 shares of the construction company’s stock worth $39,327,000 after purchasing an additional 1,339 shares during the period. Finally, Ameritas Advisory Services LLC increased its holdings in EMCOR Group by 226.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 899 shares of the construction company’s stock worth $584,000 after purchasing an additional 624 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on EME shares. Stifel Nicolaus upped their price objective on EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Robert W. Baird set a $713.00 price objective on shares of EMCOR Group in a report on Friday, October 31st. Zacks Research cut shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, DA Davidson increased their price objective on shares of EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $698.83.

EMCOR Group Stock Up 2.2%

Shares of EME stock 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 company has a market capitalization of $35.84 billion, a PE ratio of 32.19 and a beta of 1.17. The firm has a 50 day moving average price of $675.01 and a two-hundred day moving average price of $652.95.

EMCOR Group declared that its board has approved a stock buyback plan on Thursday, December 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

EMCOR Group Increases Dividend

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

EMCOR Group 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.