Townsquare Capital LLC Sells 766 Shares of EMCOR Group, Inc. $EME

Townsquare Capital LLC reduced its holdings in EMCOR Group, Inc. (NYSE:EME) by 68.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Argent Advisors Inc. lifted its position in shares of EMCOR Group by 1.1% in the 3rd quarter. Argent Advisors Inc. now owns 2,106 shares of the construction company’s stock worth $1,368,000 after purchasing an additional 23 shares during the period. Pittenger & Anderson Inc. acquired a new position in shares of EMCOR Group during the third quarter valued at about $193,000. Alpha Cubed Investments LLC acquired a new position in EMCOR Group during the 3rd quarter worth approximately $214,000. Hollencrest Capital Management raised its position in shares of EMCOR Group by 113,000.0% during the third quarter. Hollencrest Capital Management now owns 1,131 shares of the construction company’s stock worth $735,000 after purchasing an additional 1,130 shares during the period. Finally, AE Wealth Management LLC grew its position in EMCOR Group by 2.9% in the 3rd quarter. AE Wealth Management LLC now owns 841 shares of the construction company’s stock valued at $547,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EME. Robert W. Baird set a $713.00 price objective on EMCOR Group in a research note on Friday, October 31st. Wall Street Zen downgraded 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 raised their price objective for the company from $495.00 to $676.00 in a research note on Tuesday, October 7th. Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Stifel Nicolaus raised their price target on shares of EMCOR Group from $713.00 to $754.00 and gave the company a “buy” rating in a research report on Monday, January 26th. One investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $698.83.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,325 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $677.22, for a total value of $897,316.50. Following the sale, the director owned 6,140 shares of the company’s stock, valued at $4,158,130.80. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.83% of the stock is owned by insiders.

EMCOR Group Trading Down 1.2%

Shares of NYSE EME opened at $721.29 on Friday. The stock has a fifty day simple moving average of $645.50 and a two-hundred day simple moving average of $640.69. EMCOR Group, Inc. has a 1-year low of $320.89 and a 1-year high of $778.64. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 29.00 and a beta of 1.17.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, October 30th. The construction company reported $6.57 EPS for the quarter, meeting analysts’ consensus estimates of $6.57. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.27 billion. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.80 EPS. Analysts forecast that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group Increases Dividend

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

EMCOR Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.