Stock Yards Bank & Trust Co. Buys 574 Shares of EMCOR Group, Inc. (NYSE:EME)

Stock Yards Bank & Trust Co. raised its position in shares of EMCOR Group, Inc. (NYSE:EME) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 63,364 shares of the construction company’s stock after acquiring an additional 574 shares during the period. Stock Yards Bank & Trust Co.’s holdings in EMCOR Group were worth $23,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EME. Eagle Bay Advisors LLC boosted its stake in EMCOR Group by 8.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 456 shares of the construction company’s stock valued at $160,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC boosted its position in shares of EMCOR Group by 17.2% in the first quarter. GAMMA Investing LLC now owns 239 shares of the construction company’s stock valued at $84,000 after acquiring an additional 35 shares during the period. Miller Howard Investments Inc. NY grew its stake in shares of EMCOR Group by 2.2% in the second quarter. Miller Howard Investments Inc. NY now owns 2,156 shares of the construction company’s stock valued at $787,000 after acquiring an additional 46 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in EMCOR Group by 30.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 199 shares of the construction company’s stock worth $73,000 after acquiring an additional 47 shares during the period. Finally, Cooper Financial Group raised its stake in EMCOR Group by 3.7% in the 2nd quarter. Cooper Financial Group now owns 1,328 shares of the construction company’s stock worth $485,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson increased their target price on shares of EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

EMCOR Group Stock Performance

EME opened at $402.63 on Tuesday. EMCOR Group, Inc. has a 52-week low of $191.50 and a 52-week high of $403.69. The firm has a market cap of $18.92 billion, a P/E ratio of 26.56 and a beta of 1.07. The business’s fifty day moving average is $369.19 and its 200-day moving average is $363.94.

EMCOR Group (NYSE:EME) last released its earnings results on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. EMCOR Group had a net margin of 6.01% and a return on equity of 32.73%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the firm earned $2.95 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that EMCOR Group, Inc. will post 19.5 earnings per share for the current fiscal year.

EMCOR Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Monday, July 15th. EMCOR Group’s payout ratio is presently 6.60%.

EMCOR Group declared that its Board of Directors has approved a stock buyback program on Friday, June 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the construction company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 1,300 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $370.79, for a total transaction of $482,027.00. Following the completion of the transaction, the director now owns 8,637 shares of the company’s stock, valued at approximately $3,202,513.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.26% of the company’s stock.

About EMCOR Group

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.