Several Reasons to Hold EMCOR Group (EME)

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like EMCOR Group, Inc. (NYSE:EME) in the fourth quarter 2023 investor letter. Headquartered in Norwalk, Connecticut, EMCOR Group, Inc. (NYSE:EME) offers electrical and mechanical construction and facilities services. On March 28, 2024, EMCOR Group, Inc. (NYSE:EME) stock closed at $350.20 per share. One-month return of EMCOR Group, Inc. (NYSE:EME) was 11.70%, and its shares gained 117.60% of their value over the last 52 weeks. EMCOR Group, Inc. (NYSE:EME) has a market capitalization of $16.482 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding EMCOR Group, Inc. (NYSE:EME) in its fourth quarter 2023 investor letter:

“In the Industrials sector we gravitate toward business service companies, those focused on automation & efficiency improvements, and essential infrastructure services. EMCOR Group, Inc. (NYSE:EME) provides electrical and mechanical construction as well as facilities services. Management has raised full-year guidance. The company continues to see resilient trends in the semiconductor, data center, manufacturing, health care, and EV markets. Within their Building Services segment they are seeing further upside in energy efficiency, retrofitting projects, building automation, and air quality upgrades.”

An engineer studying the blueprints of a large mechanical construction near a busy city skyline.

EMCOR Group, Inc. (NYSE:EME) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, EMCOR Group, Inc. (NYSE:EME) was held by 41 hedge fund portfolios, compared to 38 in the previous quarter, according to our database.

We discussed EMCOR Group, Inc. (NYSE:EME) in another article and shared the list of best engineering stocks to buy for 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.