Everus Construction Group, Inc. $ECG Position Boosted by Wasatch Advisors LP

Wasatch Advisors LP grew its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 39.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,017,249 shares of the company’s stock after purchasing an additional 856,912 shares during the period. Everus Construction Group comprises 2.4% of Wasatch Advisors LP’s portfolio, making the stock its 7th largest holding. Wasatch Advisors LP owned about 5.91% of Everus Construction Group worth $356,216,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Sound Income Strategies LLC purchased a new stake in Everus Construction Group in the 4th quarter worth approximately $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Everus Construction Group during the 4th quarter valued at $30,000. Geneos Wealth Management Inc. grew its holdings in shares of 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 in the last quarter. McMillan Office Inc. purchased a new position in shares of Everus Construction Group during the 4th quarter valued at $43,000. Finally, Signaturefd LLC grew its holdings in shares of Everus Construction Group by 103.1% during the 4th quarter. Signaturefd LLC now owns 721 shares of the company’s stock valued at $62,000 after acquiring an additional 366 shares in the last quarter.

Wall Street Analysts Forecast Growth

ECG has been the subject of several recent research reports. Guggenheim upgraded Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Thursday, April 30th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Glj Research began coverage on Everus Construction Group in a research report on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Oppenheimer started coverage on Everus Construction Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $185.00 price target for the company. Finally, Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.67.

Everus Construction Group Stock Down 5.2%

Everus Construction Group stock opened at $155.08 on Friday. 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, Inc. has a 1-year low of $60.78 and a 1-year high of $171.58. The firm’s fifty day simple moving average is $149.79 and its 200-day simple moving average is $119.59. The company has a market capitalization of $7.92 billion, a P/E ratio of 35.57 and a beta of 2.32.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings data 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. Everus Construction Group’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Sell-side analysts forecast that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal 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.