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

Stock Yards Bank & Trust Co. lifted its position in shares of EMCOR Group, Inc. (NYSE:EME) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and 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.’s holdings in EMCOR Group were worth $22,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC lifted its stake in EMCOR Group by 53.7% in the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company’s stock valued at $38,000 after purchasing an additional 29 shares during the last quarter. Dogwood Wealth Management LLC bought a new position in EMCOR Group in the 4th quarter valued at approximately $40,000. Summit Securities Group LLC bought a new position in EMCOR Group in the 4th quarter valued at approximately $45,000. Park Square Financial Group LLC bought a new position in EMCOR Group in the 4th quarter valued at approximately $48,000. Finally, True Wealth Design LLC lifted its stake in EMCOR Group by 24.3% in the 4th quarter. True Wealth Design LLC now owns 133 shares of the construction company’s stock valued at $60,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $477.30 on Friday. EMCOR Group, Inc. has a 52-week low of $319.49 and a 52-week high of $545.30. The firm has a 50 day moving average price of $433.12 and a two-hundred day moving average price of $440.30. The stock has a market cap of $21.36 billion, a P/E ratio of 24.24 and a beta of 1.23.

EMCOR Group (NYSE:EME) last posted 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 for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm posted $4.17 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current fiscal 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 paid 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 is currently 4.42%.

EMCOR Group announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EME. Wall Street Zen downgraded shares of EMCOR Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus decreased their price target on shares of EMCOR Group from $514.00 to $503.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, UBS Group assumed coverage on shares of EMCOR Group in a research report on Friday. They issued a “buy” rating and a $570.00 price target for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, EMCOR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.60.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 947 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total value of $390,950.01. Following the sale, the director now directly owns 7,094 shares of the company’s stock, valued at approximately $2,928,616.02. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. 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.