Principal Financial Group Inc. Buys 4,849 Shares of Everus Construction Group, Inc. $ECG

Principal Financial Group Inc. lifted its position in Everus Construction Group, Inc. (NYSE:ECG) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,160 shares of the company’s stock after acquiring an additional 4,849 shares during the period. Principal Financial Group Inc.’s holdings in Everus Construction Group were worth $29,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wasatch Advisors LP grew its holdings in Everus Construction Group by 39.7% during the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock valued at $356,216,000 after purchasing an additional 856,912 shares during the period. Invesco Ltd. raised its holdings in Everus Construction Group by 86.4% in the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after purchasing an additional 832,389 shares during the period. Alliancebernstein L.P. raised its holdings in Everus Construction Group by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock worth $85,821,000 after purchasing an additional 72,775 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Everus Construction Group by 147,209.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after purchasing an additional 1,260,117 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Everus Construction Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,149,507 shares of the company’s stock worth $98,369,000 after purchasing an additional 29,652 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ECG. Cantor Fitzgerald upped their price objective on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Freedom Capital lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Glj Research began coverage on Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price for the company. 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. Finally, Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.67.

Everus Construction Group Stock Up 0.6%

Everus Construction Group stock opened at $133.97 on Monday. The stock has a market capitalization of $6.84 billion, a PE ratio of 30.73 and a beta of 2.23. Everus Construction Group, Inc. has a twelve month low of $65.27 and a twelve month high of $171.58. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $149.45 and a 200-day moving average of $125.18.

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 the consensus estimate of $0.81 by $0.33. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue was up 25.4% compared to the same quarter last year. On average, equities research analysts anticipate that Everus Construction Group, Inc. will post 4.39 EPS 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.