Mutual of America Capital Management LLC Buys New Holdings in Everus Construction Group, Inc. (NYSE:ECG)

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 bought a new stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,424 shares of the company's stock, valued at approximately $275,000.

Other large investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. purchased a new stake in Everus Construction Group in the 1st quarter worth approximately $75,089,000. Dimensional Fund Advisors LP purchased a new stake in Everus Construction Group in the 4th quarter worth approximately $120,578,000. Naya Capital Management UK Ltd. purchased a new stake in Everus Construction Group in the 4th quarter worth approximately $48,619,000. Frontier Capital Management Co. LLC purchased a new stake in Everus Construction Group in the 4th quarter worth approximately $34,797,000. Finally, Northern Trust Corp purchased a new stake in Everus Construction Group in the 4th quarter worth approximately $30,076,000.

Everus Construction Group Trading Up 4.4%

Shares of ECG stock opened at $79.14 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.69. The company has a market cap of $4.04 billion and a price-to-earnings ratio of 24.43. The stock has a 50 day simple moving average of $66.62 and a 200-day simple moving average of $54.04. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $90.00.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.61 by $0.42. Everus Construction Group had a return on equity of 37.22% and a net margin of 5.07%. The firm had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. The firm's quarterly revenue was up 31.0% on a year-over-year basis. On average, equities research analysts expect that Everus Construction Group, Inc. will post 2.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on ECG. DA Davidson upped their price objective on Everus Construction Group from $58.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Stifel Nicolaus upped their target price on Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Oppenheimer upped their target price 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. Finally, Wall Street Zen downgraded Everus Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $73.67.

About Everus Construction Group

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.

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