Townsquare Capital LLC Trims Holdings in EMCOR Group, Inc. $EME

Townsquare Capital LLC trimmed its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 68.1% during the third quarter, HoldingsChannel.com reports. The firm owned 359 shares of the construction company’s stock after selling 766 shares during the quarter. Townsquare Capital LLC’s holdings in EMCOR Group were worth $233,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in EME. Quent Capital LLC purchased a new stake in shares of EMCOR Group in the third quarter worth about $29,000. Orion Capital Management LLC bought a new stake in EMCOR Group during the 3rd quarter worth approximately $31,000. Tobam lifted its stake in EMCOR Group by 1,900.0% in the 2nd quarter. Tobam now owns 80 shares of the construction company’s stock worth $43,000 after purchasing an additional 76 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in EMCOR Group in the 2nd quarter valued at $43,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of EMCOR Group by 37.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock valued at $59,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Price Performance

Shares of NYSE EME opened at $721.29 on Friday. The stock has a market capitalization of $32.29 billion, a P/E ratio of 29.00 and a beta of 1.17. EMCOR Group, Inc. has a one year low of $320.89 and a one year high of $778.64. The firm’s 50 day simple moving average is $645.50 and its two-hundred day simple moving average is $640.69.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $6.57. EMCOR Group had a net margin of 6.96% and a return on equity of 37.04%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter in the prior year, the company earned $5.80 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. As a group, equities analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 14th were paid a $0.40 dividend. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. EMCOR Group’s payout ratio is presently 6.43%.

EMCOR Group declared that its Board of Directors has approved a share buyback program on Thursday, December 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EME shares. Weiss Ratings reissued a “buy (b)” rating on shares of EMCOR Group in a research note on Wednesday, January 21st. Wall Street Zen cut EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group upgraded EMCOR Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $495.00 to $676.00 in a research report on Tuesday, October 7th. Stifel Nicolaus upped their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $698.83.

Insider Transactions at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $677.22, for a total transaction of $897,316.50. Following the transaction, the director directly owned 6,140 shares of the company’s stock, valued at approximately $4,158,130.80. This trade represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by insiders.

About EMCOR Group

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.