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

Stock Yards Bank & Trust Co. lifted its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,364 shares of the construction company’s stock after acquiring an additional 574 shares during the period. Stock Yards Bank & Trust Co. owned approximately 0.13% of EMCOR Group worth $23,133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co acquired a new stake in shares of EMCOR Group in the 2nd quarter valued at about $26,000. Proffitt & Goodson Inc. bought a new stake in EMCOR Group in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in EMCOR Group in the 1st quarter valued at approximately $28,000. Innealta Capital LLC acquired a new position in EMCOR Group during the 2nd quarter worth approximately $29,000. Finally, ORG Partners LLC bought a new position in shares of EMCOR Group during the 2nd quarter worth approximately $31,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EMCOR Group

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

Wall Street Analysts Forecast Growth

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 report on Friday, July 26th.

EMCOR Group Stock Performance

Shares of NYSE EME opened at $402.63 on Tuesday. The stock has a 50 day moving average price of $369.19 and a 200 day moving average price of $363.94. The stock has a market capitalization of $18.92 billion, a PE ratio of 26.56 and a beta of 1.07. EMCOR Group, Inc. has a 52 week low of $191.50 and a 52 week high of $403.69.

EMCOR Group (NYSE:EME) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $5.25 EPS for the quarter, beating the consensus estimate of $3.76 by $1.49. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.52 billion. EMCOR Group had a return on equity of 32.73% and a net margin of 6.01%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.95 EPS. As a group, research analysts forecast that EMCOR Group, Inc. will post 19.5 EPS for the current year.

EMCOR Group declared that its board has approved a share buyback program on Friday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

EMCOR Group Announces Dividend

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

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.