Everus Construction Group (NYSE:ECG) Issues Quarterly Earnings Results

Everus Construction Group (NYSE:ECG) released its earnings results on Tuesday. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.33, Zacks reports. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year.

Everus Construction Group Trading Up 11.4%

NYSE ECG traded up $17.16 on Tuesday, reaching $168.09. The company had a trading volume of 2,010,037 shares, compared to its average volume of 555,927. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 38.31 and a beta of 2.55. Everus Construction Group has a fifty-two week low of $43.86 and a fifty-two week high of $169.85. The business has a 50 day moving average of $123.61 and a two-hundred day moving average of $102.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.76 and a quick ratio of 1.70.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ECG shares. Guggenheim upgraded shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Thursday, April 30th. Cantor Fitzgerald started coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They set a “neutral” rating and a $97.00 price target for the company. Zacks Research downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Stifel Nicolaus upped their price target on shares of Everus Construction Group to $153.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.33.

Institutional Trading of Everus Construction Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP acquired a new stake in Everus Construction Group in the fourth quarter valued at $184,838,000. Invesco Ltd. increased 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 valued at $153,984,000 after purchasing an additional 832,389 shares during the period. Alliancebernstein L.P. increased 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 valued at $85,821,000 after purchasing an additional 72,775 shares during the period. Dimensional Fund Advisors LP increased its holdings in Everus Construction Group by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,094,296 shares of the company’s stock valued at $93,638,000 after purchasing an additional 7,133 shares during the period. Finally, Millennium Management LLC increased its holdings in Everus Construction Group by 162.2% in the fourth quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after purchasing an additional 397,268 shares during the period.

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.