Needham Investment Management LLC Boosts Stock Position in Everus Construction Group, Inc. $ECG

Needham Investment Management LLC raised its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,500 shares of the company’s stock after acquiring an additional 9,000 shares during the period. Needham Investment Management LLC owned approximately 0.25% of Everus Construction Group worth $10,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ECG. Geneos Wealth Management Inc. raised its stake in Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Everus Construction Group during the 4th quarter valued at approximately $28,000. Bessemer Group Inc. raised its stake in Everus Construction Group by 68.2% during the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 137 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Everus Construction Group during the 4th quarter valued at approximately $30,000. Finally, McMillan Office Inc. purchased a new stake in Everus Construction Group during the 4th quarter valued at approximately $43,000.

Wall Street Analysts Forecast Growth

ECG has been the subject of a number of analyst reports. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Guggenheim raised Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Thursday, April 30th. Stifel Nicolaus set a $172.00 target price on Everus Construction Group in a research note on Friday, May 8th. Oppenheimer initiated coverage on Everus Construction Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $185.00 target price for the company. Finally, Cantor Fitzgerald increased their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group currently has an average rating of “Hold” and a consensus price target of $155.67.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $156.43 on Tuesday. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 35.88 and a beta of 2.33. The stock has a 50 day simple moving average of $144.36 and a 200-day simple moving average of $115.61. Everus Construction Group, Inc. has a 12-month low of $58.00 and a 12-month high of $171.58. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38.

Everus Construction Group (NYSE:ECG) last issued its earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts forecast that Everus Construction Group, Inc. will post 4.39 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. Everus Construction Group is based in BISMARCK, N.D.