Renaissance Technologies LLC Grows Position in Everus Construction Group, Inc. $ECG

Renaissance Technologies LLC grew its position in Everus Construction Group, Inc. (NYSE:ECG) by 234.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,400 shares of the company’s stock after acquiring an additional 104,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Everus Construction Group were worth $17,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ECG. Royal Bank of Canada increased its stake in Everus Construction Group by 155.0% in the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock valued at $1,811,000 after purchasing an additional 29,689 shares during the period. Millennium Management LLC increased its position in Everus Construction Group by 42.7% during the 1st quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after purchasing an additional 73,128 shares during the period. Goldman Sachs Group Inc. grew its holdings in Everus Construction Group by 74.4% during the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after acquiring an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Everus Construction Group by 33.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock valued at $5,207,000 after purchasing an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Everus Construction Group by 184.4% in the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock valued at $2,645,000 after buying an additional 46,247 shares in the last quarter.

Analyst Upgrades and Downgrades

ECG has been the subject of a number of research analyst reports. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Freedom Capital lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Glj Research assumed coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective on the stock. Cantor Fitzgerald raised their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $155.67.

Everus Construction Group Stock Performance

NYSE ECG opened at $123.31 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. Everus Construction Group, Inc. has a fifty-two week low of $68.51 and a fifty-two week high of $171.58. The business has a fifty day moving average of $144.51 and a 200-day moving average of $127.72. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 28.28 and a beta of 2.23.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.33. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. As a group, analysts predict that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal year.

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. Everus Construction Group is based in BISMARCK, N.D.