M&T Bank Corp Buys Shares of 78,284 Everus (NYSE:ECG)

M&T Bank Corp bought a new stake in Everus (NYSE:ECG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 78,284 shares of the company’s stock, valued at approximately $5,147,000. M&T Bank Corp owned approximately 0.15% of Everus as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new stake in Everus in the 4th quarter valued at approximately $31,611,000. US Bancorp DE bought a new stake in Everus in the 4th quarter valued at approximately $28,332,000. Charles Schwab Investment Management Inc. bought a new stake in Everus in the 4th quarter valued at approximately $27,031,000. Principal Financial Group Inc. bought a new stake in Everus in the 4th quarter valued at approximately $16,241,000. Finally, Moody Aldrich Partners LLC bought a new stake in Everus in the 4th quarter valued at approximately $4,359,000.

Analyst Ratings Changes

Several research firms have weighed in on ECG. Oppenheimer boosted their price target on Everus from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Wolfe Research began coverage on Everus in a research report on Tuesday, December 3rd. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus lowered their price target on Everus from $85.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Insider Buying and Selling

In other news, Director Rocca Michael Della purchased 1,050 shares of Everus stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $47.56 per share, for a total transaction of $49,938.00. Following the purchase, the director now directly owns 2,027 shares of the company’s stock, valued at $96,404.12. This trade represents a 107.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward A. Ryan purchased 1,400 shares of Everus stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average price of $38.02 per share, with a total value of $53,228.00. Following the completion of the purchase, the director now directly owns 14,928 shares in the company, valued at $567,562.56. This trade represents a 10.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,750 shares of company stock valued at $153,853.

Everus Price Performance

ECG stock opened at $40.05 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. Everus has a 1-year low of $37.18 and a 1-year high of $77.93. The business’s 50 day simple moving average is $60.68.

Everus (NYSE:ECG) last posted its earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). As a group, analysts anticipate that Everus will post 2.49 earnings per share for the current fiscal year.

Everus 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.