First National Bank of Hutchinson Sells 922 Shares of EMCOR Group, Inc. $EME

First National Bank of Hutchinson reduced its stake in shares of EMCOR Group, Inc. (NYSE:EME) by 36.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,599 shares of the construction company’s stock after selling 922 shares during the period. First National Bank of Hutchinson’s holdings in EMCOR Group were worth $1,039,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in shares of EMCOR Group by 3.0% in the third quarter. Signaturefd LLC now owns 557 shares of the construction company’s stock worth $362,000 after acquiring an additional 16 shares during the period. Woodward Diversified Capital LLC lifted its position in shares of EMCOR Group by 2.4% in the 3rd quarter. Woodward Diversified Capital LLC now owns 760 shares of the construction company’s stock worth $494,000 after purchasing an additional 18 shares during the period. Altus Wealth Group LLC boosted its stake in shares of EMCOR Group by 1.4% in the 3rd quarter. Altus Wealth Group LLC now owns 1,495 shares of the construction company’s stock valued at $971,000 after purchasing an additional 20 shares during the last quarter. Simon Quick Advisors LLC increased its position in shares of EMCOR Group by 2.1% during the second quarter. Simon Quick Advisors LLC now owns 1,092 shares of the construction company’s stock worth $584,000 after buying an additional 22 shares during the period. Finally, Archer Investment Corp raised its stake in EMCOR Group by 2.6% during the third quarter. Archer Investment Corp now owns 858 shares of the construction company’s stock worth $557,000 after buying an additional 22 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

EMCOR Group Trading Up 6.6%

NYSE EME opened at $764.85 on Friday. The company has a fifty day simple moving average of $657.89 and a 200 day simple moving average of $646.75. EMCOR Group, Inc. has a 12-month low of $320.89 and a 12-month high of $778.64. The company has a market cap of $34.24 billion, a P/E ratio of 30.75 and a beta of 1.17.

EMCOR Group announced that its Board of Directors has approved a stock repurchase program on Thursday, December 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

EMCOR Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, January 14th. This is a positive change from EMCOR Group’s previous quarterly dividend of $0.25. EMCOR Group’s payout ratio is 6.43%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EME shares. Wall Street Zen downgraded EMCOR Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson lifted their target price on EMCOR Group from $725.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Robert W. Baird set a $713.00 price target on EMCOR Group in a research note on Friday, October 31st. Stifel Nicolaus raised their price objective on shares of EMCOR Group from $713.00 to $754.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Zacks Research lowered shares of EMCOR Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $698.83.

EMCOR Group Profile

EMCOR Group, Inc is a provider of mechanical and electrical construction, industrial and energy infrastructure, and facilities services to commercial, institutional and industrial clients. The company delivers a broad range of services that include design-build and traditional construction of mechanical, electrical and plumbing systems; ongoing facilities maintenance and operations; and specialized industrial services for sectors such as manufacturing, data centers, healthcare and utilities.

EMCOR’s service offerings encompass HVAC, plumbing, electrical installation and maintenance, fire protection, building automation and controls, commissioning, testing and balancing, and energy management solutions.