Maryland State Retirement & Pension System Sells 2,220 Shares of Everus Construction Group, Inc. (NYSE:ECG)

Maryland State Retirement & Pension System lowered its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 11.1% in the first quarter, Holdings Channel reports. The firm owned 17,762 shares of the company’s stock after selling 2,220 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Everus Construction Group were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ECG. Principal Financial Group Inc. lifted 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. GAMMA Investing LLC lifted its stake in Everus Construction Group by 295.6% in the first quarter. GAMMA Investing LLC now owns 720 shares of the company’s stock valued at $27,000 after acquiring an additional 538 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Everus Construction Group in the first quarter valued at $716,000. Arizona State Retirement System acquired a new stake in Everus Construction Group in the first quarter valued at $515,000. Finally, Asset Management One Co. Ltd. lifted its stake in Everus Construction Group by 52.0% in the first quarter. Asset Management One Co. Ltd. now owns 70,905 shares of the company’s stock valued at $2,630,000 after acquiring an additional 24,263 shares during the last quarter.

Analyst Upgrades and Downgrades

ECG has been the subject of a number of recent analyst reports. DA Davidson increased 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 note on Thursday, May 15th. Oppenheimer increased their price target on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Stifel Nicolaus increased 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 note on Friday, July 11th. Finally, Wall Street Zen cut shares of Everus Construction Group from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Everus Construction Group has a consensus rating of “Hold” and an average target price of $73.67.

Everus Construction Group Stock Performance

NYSE ECG opened at $79.14 on Thursday. The firm has a 50-day moving average of $66.62 and a 200-day moving average of $54.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.78. The stock has a market cap of $4.04 billion and a PE ratio of 24.43. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.42. The company had revenue of $921.47 million during the quarter, compared to analysts’ expectations of $749.12 million. Everus Construction Group had a net margin of 5.07% and a return on equity of 37.22%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

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.