Everus Construction Group, Inc. $ECG Position Lifted by Clearfield Capital Management LP

Clearfield Capital Management LP raised its position in Everus Construction Group, Inc. (NYSE:ECG) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,600 shares of the company’s stock after buying an additional 14,936 shares during the quarter. Everus Construction Group makes up approximately 11.6% of Clearfield Capital Management LP’s portfolio, making the stock its 3rd biggest position. Clearfield Capital Management LP owned approximately 0.44% of Everus Construction Group worth $19,345,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ECG. Geneos Wealth Management Inc. raised its position in Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Bessemer Group Inc. boosted 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 worth $29,000 after purchasing an additional 137 shares during the period. Country Trust Bank purchased a new position in Everus Construction Group during the 2nd quarter worth $31,000. Salomon & Ludwin LLC acquired a new position in Everus Construction Group in the third quarter valued at $33,000. Finally, Quent Capital LLC acquired a new position in Everus Construction Group in the third quarter valued at $53,000.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $112.84 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $100.46 and a 200-day simple moving average of $91.51. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 28.64 and a beta of 3.27. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $137.64.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.36. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $879.57 million. During the same period in the previous year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, equities analysts forecast that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

ECG has been the subject of several recent research reports. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Cantor Fitzgerald assumed coverage on Everus Construction Group in a research report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target on the stock. Stifel Nicolaus reduced their price objective on Everus Construction Group from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Guggenheim started coverage on Everus Construction Group in a research note on Thursday, January 22nd. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.75.

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.