Should You Invest in EMCOR Group (EME) For a Long-Term Return?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2500 Growth Index and returned 0.22% (net), and the index return was -0.12%. During the quarter, weakness in Financials, Health Care, and Industrial sectors was offset by strength in Consumer Staples, Consumer Discretionary, and Information Technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like EMCOR Group, Inc. (NYSE:EME) in its Q3 2022 investor letter. Headquartered in Norwalk, Connecticut, EMCOR Group, Inc. (NYSE:EME) offers electrical and mechanical construction, and facilities services. On December 21, 2022, EMCOR Group, Inc. (NYSE:EME) stock closed at $149.34 per share. One-month return of EMCOR Group, Inc. (NYSE:EME) was -2.77% and its shares gained 18.95% of their value over the last 52 weeks. EMCOR Group, Inc. (NYSE:EME) has a market capitalization of $7.117 million.

TimesSquare Capital made the following comment about EMCOR Group, Inc. (NYSE:EME) in its Q3 2022 investor letter:

“Offsetting that somewhat was the 12% return posted by EMCOR Group, Inc. (NYSE:EME), which provides construction and operational services for mechanical and electrical systems to a broad range of commercial, industrial, utility, and institutional customers. As an industrial company well-positioned to pass along higher costs and maintaining its margins, EMCOR reported higher-than-anticipated revenues and earnings, increased guidance for the balance of the year, and authorized an additional $500 million share repurchase plan. There was a healthy backlog of orders for refinery services, building retrofits, construction, and advanced industrial areas.”

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EMCOR Group, Inc. (NYSE:EME) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held EMCOR Group, Inc. (NYSE:EME) at the end of the third quarter which was 27 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 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.