The Teacher Retirement System of Texas has significantly increased its stake in Everus Construction Group, Inc. (NYSE: ECG) by 22.7% during the third quarter, as disclosed in a filing with the Securities and Exchange Commission. The fund now holds 299,696 shares of Everus, following the acquisition of an additional 55,518 shares. As of the latest filing, the value of its holdings in Everus stands at approximately $25.7 million.
Other institutional investors have also shown interest in Everus Construction Group. In the second quarter, Geneos Wealth Management Inc. boosted its stake by an impressive 105.3%, now owning 386 shares valued at $25,000 after purchasing 198 additional shares. Similarly, Signaturefd LLC increased its holdings by 91.6%, acquiring 435 shares worth $28,000 after adding 208 shares during the same period.
Further investments include Country Trust Bank’s new stake valued at about $31,000 and Salomon & Ludwin LLC’s acquisition worth approximately $33,000. GHP Investment Advisors Inc. also entered the scene with a new position valued at around $37,000.
Analyst Ratings and Stock Performance
Research analysts have been active in assessing Everus Construction Group’s prospects. Oppenheimer reaffirmed an “outperform” rating on November 6, setting a price target of $105.00. Meanwhile, Weiss Ratings maintained a “hold (c)” rating, while Zacks Research downgraded the company from a “strong-buy” to a “hold” on January 5. Wall Street Zen raised its rating from “buy” to “strong-buy” on November 8, and Cantor Fitzgerald initiated coverage with a “neutral” rating and a price objective of $97.00.
Currently, two analysts rate the stock as a Buy, while five have issued a Hold rating. According to MarketBeat, the consensus rating for Everus is “Hold,” with an average target price of $99.50.
Everus Construction Group’s stock recently opened at $91.10, reflecting a decrease of 1.0%. The company maintains a debt-to-equity ratio of 0.47, a current ratio of 1.76, and a quick ratio of 1.69. Over the past year, the stock has fluctuated, reaching a low of $31.38 and a high of $103.08. The firm’s market capitalization stands at $4.65 billion, with a price-to-earnings ratio of 25.81.
Quarterly Earnings and Future Projections
Everus Construction Group recently reported quarterly earnings on November 4, revealing earnings per share (EPS) of $1.11, surpassing the consensus estimate of $0.62 by $0.49. The company achieved a return on equity of 36.74% and a net margin of 5.18%. Revenue for the quarter reached $986.82 million, significantly exceeding the consensus estimate of $830.60 million. This marks a 29.7% increase in revenue year-on-year.
Looking ahead, analysts project that Everus Construction Group will report earnings of $2.49 per share for the current fiscal year. Based in Bismarck, North Dakota, Everus provides a comprehensive range of construction services, focusing on electrical, mechanical, and transmission and distribution specialty contracting for various sectors, including utility and transportation.
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