Stock Yards Bank & Trust Co. Purchases 1,029 Shares of EMCOR Group, Inc. (NYSE:EME)

Stock Yards Bank & Trust Co. increased its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,561 shares of the construction company’s stock after acquiring an additional 1,029 shares during the period. Stock Yards Bank & Trust Co. owned about 0.13% of EMCOR Group worth $22,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Continuum Advisory LLC raised its holdings in shares of EMCOR Group by 53.7% during the fourth quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock worth $38,000 after acquiring an additional 29 shares during the period. Dogwood Wealth Management LLC acquired a new stake in shares of EMCOR Group during the fourth quarter worth $40,000. Summit Securities Group LLC acquired a new stake in shares of EMCOR Group during the fourth quarter worth $45,000. Park Square Financial Group LLC acquired a new stake in shares of EMCOR Group during the fourth quarter worth $48,000. Finally, True Wealth Design LLC raised its holdings in shares of EMCOR Group by 24.3% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock worth $60,000 after acquiring an additional 26 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

EMCOR Group Price Performance

Shares of EME opened at $477.30 on Friday. The firm has a 50-day moving average of $433.12 and a 200-day moving average of $440.30. EMCOR Group, Inc. has a one year low of $319.49 and a one year high of $545.30. The company has a market cap of $21.36 billion, a PE ratio of 24.24 and a beta of 1.23.

EMCOR Group (NYSE:EME) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the firm posted $4.17 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts expect that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group’s dividend payout ratio (DPR) is presently 4.42%.

EMCOR Group announced that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

EME has been the topic of several recent research reports. UBS Group initiated coverage on shares of EMCOR Group in a research note on Friday. They issued a “buy” rating and a $570.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Wall Street Zen lowered shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, EMCOR Group currently has an average rating of “Moderate Buy” and an average price target of $509.60.

Insider Activity

In other EMCOR Group news, Director Robin A. Walker-Lee sold 947 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the completion of the sale, the director now owns 7,094 shares of the company’s stock, valued at $2,928,616.02. The trade was a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the completion of the sale, the chief executive officer now directly owns 208,989 shares of the company’s stock, valued at $91,125,473.67. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.