State of New Jersey Common Pension Fund D Buys New Stake in Everus Construction Group, Inc. $ECG

State of New Jersey Common Pension Fund D bought a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 32,818 shares of the company’s stock, valued at approximately $2,085,000. State of New Jersey Common Pension Fund D owned 0.06% of Everus Construction Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Everus Construction Group during the second quarter valued at $1,421,000. Yousif Capital Management LLC lifted its position in Everus Construction Group by 1.1% during the second quarter. Yousif Capital Management LLC now owns 19,077 shares of the company’s stock valued at $1,212,000 after purchasing an additional 215 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Everus Construction Group during the second quarter valued at $273,000. Vanguard Personalized Indexing Management LLC acquired a new position in Everus Construction Group during the second quarter valued at $274,000. Finally, Apollon Wealth Management LLC acquired a new position in Everus Construction Group during the second quarter valued at $283,000.

Everus Construction Group Stock Up 0.8%

ECG opened at $91.68 on Thursday. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $95.90. The company has a quick ratio of 1.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $82.33 and a 200 day moving average price of $67.79. The company has a market cap of $4.68 billion and a PE ratio of 28.30.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.42. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The firm had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. Everus Construction Group has set its FY 2025 guidance at EPS. Sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ECG has been the subject of a number of analyst reports. Oppenheimer set a $90.00 price objective on shares of Everus Construction Group and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 14th. Stifel Nicolaus upped their price objective on shares of Everus Construction Group from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, DA Davidson upped their price objective on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.67.

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.