Everus Construction Group, Inc. $ECG Shares Sold by M&T Bank Corp

Key Points

• M&T Bank Corp cut its stake in Everus by 47.9% in the fourth quarter, selling 17,851 shares and leaving it with 19,400 shares valued at $1.66 million per its SEC filing.
• Everus posted a strong quarter—$1.08 EPS vs. $0.72 expected and $1.01B in revenue (up 33% YoY)—while shares opened at $136.70 and were down 2.5% on the day; the company has a market cap of $6.98B and a P/E of 34.7.
• Analysts have a consensus "Moderate Buy" rating with a $119.60 target, though Stifel recently raised its target to $153 and coverage ranges from Strong Buy to Hold across firms.

M&T Bank Corp lowered its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,400 shares of the company's stock after selling 17,851 shares during the period. M&T Bank Corp's holdings in Everus Construction Group were worth $1,660,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Everus Construction Group by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,620 shares of the company's stock worth $464,000 after acquiring an additional 109 shares during the period. Bessemer Group Inc. lifted its stake in shares of Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company's stock worth $29,000 after acquiring an additional 137 shares during the period. GAMMA Investing LLC lifted its stake in shares of Everus Construction Group by 12.6% in the 4th quarter. GAMMA Investing LLC now owns 1,286 shares of the company's stock worth $110,000 after acquiring an additional 144 shares during the period. Amalgamated Bank lifted its stake in shares of Everus Construction Group by 1.1% in the 3rd quarter. Amalgamated Bank now owns 15,531 shares of the company's stock worth $1,332,000 after acquiring an additional 163 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Everus Construction Group by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 14,336 shares of the company's stock worth $1,229,000 after acquiring an additional 197 shares during the period.

Everus Construction Group Stock Down 2.5%

Shares of NYSE ECG opened at $136.70 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. Everus Construction Group, Inc. has a 52 week low of $38.51 and a 52 week high of $141.54. The firm has a 50-day moving average price of $120.90 and a 200 day moving average price of $101.64. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 34.70 and a beta of 2.88.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.72 by $0.36. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $879.57 million. During the same quarter last year, the business earned $0.67 earnings per share. The business's revenue for the quarter was up 33.0% compared to the same quarter last year. Equities research analysts anticipate that Everus Construction Group, Inc. will post 4.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Everus Construction Group to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Wall Street Zen cut shares of Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 7th. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Guggenheim assumed coverage on shares of Everus Construction Group in a research note on Thursday, January 22nd. They issued a "neutral" rating for the company. Finally, Glj Research assumed coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a "hold" rating and a $141.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.60.

Everus Construction Group Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.

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