7,424 Shares in Everus Construction Group, Inc. $ECG Bought by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC acquired a new stake in Everus Construction Group, Inc., purchasing 7,424 shares valued at approximately $275,000 in the first quarter of 2023.
• Everus Construction Group's quarterly earnings report revealed an EPS of $1.03, significantly exceeding analysts' expectations of $0.61, with revenue increasing by 31.0% year-over-year.
• Research firms have recently adjusted their price targets on Everus Construction Group, with the consensus rating currently at "Hold" and an average price target of $73.67.

Mutual of America Capital Management LLC purchased a new position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,424 shares of the company's stock, valued at approximately $275,000.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Everus Construction Group by 40.7% during the 1st quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock worth $12,891,000 after buying an additional 100,551 shares during the last quarter. GAMMA Investing LLC grew its stake in Everus Construction Group by 295.6% during the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock worth $27,000 after buying an additional 538 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Everus Construction Group during the 1st quarter worth approximately $716,000. Arizona State Retirement System purchased a new position in Everus Construction Group during the 1st quarter worth approximately $515,000. Finally, Asset Management One Co. Ltd. grew its stake in Everus Construction Group by 52.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 70,905 shares of the company's stock worth $2,630,000 after buying an additional 24,263 shares during the last quarter.

Everus Construction Group Stock Performance

Shares of ECG stock traded up $0.67 during midday trading on Monday, hitting $76.36. The company had a trading volume of 306,191 shares, compared to its average volume of 650,629. The company's 50 day simple moving average is $67.20 and its 200 day simple moving average is $53.94. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. The stock has a market cap of $3.89 billion and a price-to-earnings ratio of 23.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 1.69.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.42. The company had revenue of $921.47 million for the quarter, compared to the consensus estimate of $749.12 million. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%. The firm's revenue for the quarter was up 31.0% compared to the same quarter last year. Research analysts anticipate that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on ECG. Oppenheimer raised their price target on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Everus Construction Group from a "hold" rating to a "buy" rating in a research note on Saturday. DA Davidson set a $88.00 price target on Everus Construction Group and gave the stock a "neutral" rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their target price on Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Everus Construction Group currently has a consensus rating of "Moderate Buy" and an average price target of $80.33.

Everus Construction Group Company 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.