Convergence Investment Partners LLC Buys Shares of 15,293 Everus Construction Group, Inc. $ECG

Convergence Investment Partners LLC purchased a new position in Everus Construction Group, Inc. (NYSE:ECG) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,293 shares of the company’s stock, valued at approximately $1,311,000.

A number of other hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in Everus Construction Group by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,620 shares of the company’s stock valued at $464,000 after purchasing an additional 109 shares in the last quarter. Amalgamated Bank grew its holdings in Everus Construction Group by 1.1% during the third quarter. Amalgamated Bank now owns 15,531 shares of the company’s stock worth $1,332,000 after acquiring an additional 163 shares during the period. Arizona State Retirement System grew its holdings in Everus Construction Group by 1.4% during the third quarter. Arizona State Retirement System now owns 14,336 shares of the company’s stock worth $1,229,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. raised its position in Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in Everus Construction Group by 0.3% in the 3rd quarter. New York State Teachers Retirement System now owns 58,210 shares of the company’s stock valued at $4,992,000 after acquiring an additional 200 shares during the last quarter.

Everus Construction Group Stock Up 2.0%

ECG stock opened at $90.30 on Tuesday. The company has a 50 day moving average of $90.16 and a two-hundred day moving average of $84.55. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 25.58 and a beta of 3.84. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $103.08. The company has a quick ratio of 1.69, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $986.82 million during the quarter, compared to analysts’ expectations of $830.60 million. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. On average, equities analysts anticipate that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ECG. Stifel Nicolaus dropped their target price on shares of Everus Construction Group from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Guggenheim assumed coverage on Everus Construction Group in a report on Thursday, January 22nd. They set a “neutral” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Everus Construction Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Everus Construction Group has a consensus rating of “Hold” 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.