Allstate Corp Buys Shares of 1,604 EMCOR Group, Inc. $EME

Allstate Corp purchased a new position in shares of EMCOR Group, Inc. (NYSE:EME) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,604 shares of the construction company’s stock, valued at approximately $1,042,000.

Several other hedge funds have also recently modified their holdings of EME. Quent Capital LLC acquired a new position in EMCOR Group in the 3rd quarter valued at $29,000. Tobam boosted its holdings in shares of EMCOR Group by 1,900.0% in the second quarter. Tobam now owns 80 shares of the construction company’s stock valued at $43,000 after acquiring an additional 76 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EMCOR Group during the second quarter worth about $43,000. Hazlett Burt & Watson Inc. boosted its holdings in EMCOR Group by 37.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the construction company’s stock valued at $59,000 after purchasing an additional 30 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in EMCOR Group by 333.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the construction company’s stock valued at $59,000 after purchasing an additional 70 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

EMCOR Group Stock Up 3.0%

NYSE EME opened at $708.30 on Thursday. EMCOR Group, Inc. has a fifty-two week low of $320.89 and a fifty-two week high of $778.64. The business has a fifty day moving average of $630.19 and a 200-day moving average of $632.65. The stock has a market cap of $31.71 billion, a price-to-earnings ratio of 28.48 and a beta of 1.17.

EMCOR Group (NYSE:EME) last posted its quarterly earnings data on Thursday, October 30th. The construction company reported $6.57 EPS for the quarter, hitting analysts’ consensus estimates of $6.57. EMCOR Group had a return on equity of 37.04% and a net margin of 6.96%.The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the business posted $5.80 EPS. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. EMCOR Group has set its FY 2025 guidance at 25.000-25.75 EPS. As a group, analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has authorized a stock buyback program on Thursday, December 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

EMCOR Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be given a $0.40 dividend. This is a boost from EMCOR Group’s previous quarterly dividend of $0.25. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, January 14th. EMCOR Group’s dividend payout ratio (DPR) is presently 6.43%.

Insider Buying and Selling

In other EMCOR Group news, Director Robin A. Walker-Lee sold 1,325 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $677.22, for a total transaction of $897,316.50. Following the transaction, the director owned 6,140 shares of the company’s stock, valued at $4,158,130.80. This represents a 17.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on EME shares. Zacks Research cut EMCOR Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. The Goldman Sachs Group upgraded shares of EMCOR Group from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $495.00 to $676.00 in a research report on Tuesday, October 7th. Stifel Nicolaus increased their price target on shares of EMCOR Group from $692.00 to $718.00 and gave the company a “buy” rating in a report on Monday, October 13th. DA Davidson raised their price objective on shares of EMCOR Group from $725.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of EMCOR Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $692.83.

EMCOR Group Company 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.