Emcor Continues Incinerating Shares with an Additional $500 Million Repurchase

Companies that embark on a roll-up strategy by acquiring several companies often end up with a highly leveraged balance sheet. But there are remarkable exceptions. I recently discovered a company that has maintained a robust balance sheet while managing over 100 subsidiaries. Effective integration of acquisitions is pivotal to their growth strategy. This innovative company recently unveiled a $500 million share repurchase program, representing about 3% of its market cap at the time of the announcement. The company has already retired more than 14% of its shares outstanding over the last three years.