TimesSquare Capital Management LLC Acquires 205,793 Shares of EMCOR Group, Inc. (NYSE:EME)

TimesSquare Capital Management LLC increased its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 93.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 426,083 shares of the construction company's stock after acquiring an additional 205,793 shares during the period. EMCOR Group comprises approximately 1.4% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 17th largest holding. TimesSquare Capital Management LLC owned 0.91% of EMCOR Group worth $91,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EME. Nordea Investment Management AB increased its stake in shares of EMCOR Group by 10.7% during the 4th quarter. Nordea Investment Management AB now owns 101,220 shares of the construction company's stock worth $21,880,000 after purchasing an additional 9,752 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of EMCOR Group during the 4th quarter worth approximately $992,000. Federated Hermes Inc. raised its stake in EMCOR Group by 20.1% in the 4th quarter. Federated Hermes Inc. now owns 102,556 shares of the construction company's stock valued at $22,094,000 after acquiring an additional 17,188 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in EMCOR Group by 1.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 260,308 shares of the construction company's stock worth $56,078,000 after purchasing an additional 2,880 shares during the period. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in shares of EMCOR Group in the fourth quarter valued at $4,054,000. Institutional investors own 92.59% of the company's stock.

Insiders Place Their Bets

In other EMCOR Group news, CEO Anthony Guzzi sold 6,000 shares of EMCOR Group stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,023 shares in the company, valued at $70,010,701.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on EME shares. KeyCorp initiated coverage on shares of EMCOR Group in a report on Wednesday, January 10th. They issued a "sector weight" rating on the stock. DA Davidson reiterated a "buy" rating and set a $375.00 price objective on shares of EMCOR Group in a research note on Friday, March 22nd.

EMCOR Group Price Performance

Shares of EME stock traded up $2.85 on Thursday, hitting $382.28. 286,120 shares of the company's stock were exchanged, compared to its average volume of 427,913. EMCOR Group, Inc. has a 12 month low of $161.49 and a 12 month high of $383.98. The company has a 50 day moving average of $344.38 and a 200 day moving average of $265.09. The stock has a market cap of $17.97 billion, a P/E ratio of 25.21 and a beta of 1.07.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.48% and a return on equity of 30.38%. The business had revenue of $3.43 billion during the quarter. Sell-side analysts predict that EMCOR Group, Inc. will post 16.1 EPS for the current fiscal year.

EMCOR Group Increases Dividend

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Monday, April 15th. This is an increase from EMCOR Group's previous quarterly dividend of $0.18. EMCOR Group's dividend payout ratio (DPR) 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.

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