Everus Construction Group, Inc. (NYSE:ECG) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Everus Construction Group has a consensus “Hold” rating from nine brokerages: six analysts recommend holding the stock and three recommend buying it. The average 12-month price target is $155.67, above the reported $132.57 share price.
• The company delivered stronger-than-expected quarterly results, posting EPS of $1.14 versus the $0.81 consensus and revenue of $1.04 billion versus estimates of $933.81 million. Revenue increased 25.4% year over year.
• Several major institutional investors increased their positions during the first quarter, including Royal Bank of Canada, Millennium Management, Goldman Sachs, UBS Asset Management and Jane Street.

Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) has earned an average rating of "Hold" from the nine brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $155.6667.

A number of research analysts have weighed in on the company. Freedom Capital downgraded Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a research note on Friday, May 8th. Oppenheimer assumed coverage on shares of Everus Construction Group in a research report on Thursday, May 28th. They set an "outperform" rating and a $185.00 price target for the company. Weiss Ratings upgraded shares of Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald raised their price objective on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a "neutral" rating in a report on Monday, May 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ECG. Royal Bank of Canada grew its position in shares of Everus Construction Group by 155.0% during the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company's stock valued at $1,811,000 after acquiring an additional 29,689 shares during the period. Millennium Management LLC increased its stake in shares of Everus Construction Group by 42.7% in the 1st quarter. Millennium Management LLC now owns 244,421 shares of the company's stock worth $9,066,000 after purchasing an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Everus Construction Group by 74.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company's stock worth $6,631,000 after purchasing an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Everus Construction Group by 33.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company's stock worth $5,207,000 after purchasing an additional 34,868 shares during the period. Finally, Jane Street Group LLC raised its holdings in Everus Construction Group by 184.4% in the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company's stock worth $2,645,000 after purchasing an additional 46,247 shares during the period.

Everus Construction Group Price Performance

NYSE ECG opened at $132.57 on Tuesday. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 30.41 and a beta of 2.23. Everus Construction Group has a 1-year low of $69.61 and a 1-year high of $171.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71. The business's fifty day moving average price is $143.75 and its 200-day moving average price is $128.33.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.81 by $0.33. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.Everus Construction Group's revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, equities analysts predict that Everus Construction Group will post 4.39 earnings per share for the current year.

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.

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