M&T Bank Corp Reduces Stock Position in Everus Construction Group, Inc. (NYSE:ECG)

M&T Bank Corp lessened its position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 53.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,377 shares of the company's stock after selling 41,907 shares during the quarter. M&T Bank Corp owned 0.07% of Everus Construction Group worth $1,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Washington Trust Bank bought a new position in Everus Construction Group in the first quarter valued at $935,000. Catalyst Capital Advisors LLC increased its stake in Everus Construction Group by 2.0% in the first quarter. Catalyst Capital Advisors LLC now owns 22,692 shares of the company's stock valued at $842,000 after acquiring an additional 440 shares during the last quarter. Principal Financial Group Inc. increased its stake in Everus Construction Group by 40.7% in the first quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock valued at $12,891,000 after acquiring an additional 100,551 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Everus Construction Group by 46.7% in the first quarter. Teacher Retirement System of Texas now owns 110,256 shares of the company's stock valued at $4,089,000 after acquiring an additional 35,095 shares during the last quarter. Finally, Skylands Capital LLC bought a new position in Everus Construction Group in the first quarter valued at $998,000.

Everus Construction Group Trading Down 0.1%

NYSE ECG traded down $0.10 during trading on Thursday, hitting $69.17. 478,013 shares of the company's stock traded hands, compared to its average volume of 662,049. The stock has a fifty day moving average of $61.01 and a two-hundred day moving average of $53.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.78. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $77.93.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.29. The company had revenue of $826.63 million during the quarter, compared to analyst estimates of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The firm's quarterly revenue was up 32.1% on a year-over-year basis. As a group, equities analysts anticipate that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

ECG has been the subject of several analyst reports. DA Davidson upped their price target on shares of Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Stifel Nicolaus upped their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 11th.

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.