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

Stock Yards Bank & Trust Co. raised its stake in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 1.8% during 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 purchasing an additional 1,029 shares during the quarter. Stock Yards Bank & Trust Co. owned approximately 0.13% of EMCOR Group worth $22,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EME. Stratos Wealth Partners LTD. purchased a new position in EMCOR Group during the 4th quarter valued at $211,000. Van ECK Associates Corp increased its position in EMCOR Group by 5.3% during the 4th quarter. Van ECK Associates Corp now owns 9,903 shares of the construction company's stock valued at $4,495,000 after purchasing an additional 502 shares during the period. Asset Management One Co. Ltd. increased its position in EMCOR Group by 16.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 19,738 shares of the construction company's stock valued at $9,067,000 after purchasing an additional 2,770 shares during the period. Arcus Capital Partners LLC increased its position in EMCOR Group by 21.8% during the 4th quarter. Arcus Capital Partners LLC now owns 1,071 shares of the construction company's stock valued at $486,000 after purchasing an additional 192 shares during the period. Finally, Banque Pictet & Cie SA purchased a new position in EMCOR Group during the 4th quarter valued at $3,961,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

EMCOR Group Stock Up 0.5%

Shares of EME stock traded up $2.37 during mid-day trading on Friday, reaching $477.30. 400,996 shares of the company's stock traded hands, compared to its average volume of 450,795. EMCOR Group, Inc. has a 12 month low of $319.49 and a 12 month high of $545.30. The company has a market cap of $21.36 billion, a P/E ratio of 24.24 and a beta of 1.23. The company's 50-day moving average price is $435.60 and its 200-day moving average price is $440.04.

EMCOR Group (NYSE:EME - Get Free Report) last announced its earnings results 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 firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the business posted $4.17 EPS. The company's quarterly revenue was up 12.7% on a year-over-year basis. Equities analysts predict that EMCOR Group, Inc. will post 20.74 earnings per share for the current year.

EMCOR Group Announces Dividend

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

EMCOR Group declared that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

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.