Squarepoint Ops LLC Reduces Stock Position in Everus Construction Group, Inc. $ECG

Squarepoint Ops LLC reduced its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 72.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,863 shares of the company’s stock after selling 66,636 shares during the quarter. Squarepoint Ops LLC’s holdings in Everus Construction Group were worth $1,643,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. raised its holdings in Everus Construction Group by 58.2% in the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company’s stock valued at $47,405,000 after acquiring an additional 470,025 shares in the last quarter. Swedbank AB bought a new stake in shares of Everus Construction Group in the 2nd quarter worth about $19,059,000. Rudius Management LP acquired a new stake in shares of Everus Construction Group in the 1st quarter valued at about $7,520,000. Loomis Sayles & Co. L P bought a new position in shares of Everus Construction Group during the second quarter worth about $11,020,000. Finally, Clifford Capital Partners LLC acquired a new position in Everus Construction Group in the second quarter worth about $8,660,000.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus increased their target price on Everus Construction Group from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of Everus Construction Group in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, DA Davidson set a $102.00 target price on shares of Everus Construction Group in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Everus Construction Group presently has an average rating of “Moderate Buy” and a consensus target price of $100.33.

Everus Construction Group Stock Performance

ECG opened at $88.97 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $90.60 and its 200-day moving average is $78.54. The stock has a market cap of $4.54 billion and a PE ratio of 25.20. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $103.08.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.49. Everus Construction Group had a return on equity of 36.74% and a net margin of 5.18%.The business had revenue of $986.82 million during the quarter, compared to analyst estimates of $830.60 million. During the same period in the prior year, the company posted $0.82 EPS. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. On average, analysts predict that Everus Construction Group, Inc. will post 2.49 earnings per share 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.