Everus Construction Group (NYSE:ECG) Issues Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Key Points

• Everus Construction Group reported quarterly EPS of $1.64, beating analyst estimates by $0.50, while revenue reached $1.23 billion versus the $1.08 billion consensus estimate.
• The stock rose 2.5% to $136 during Tuesday trading. ECG has a $6.94 billion market capitalization, a 31.19 price-to-earnings ratio, and a 52-week range of $69.61 to $171.58.
• Institutional ownership increased as several major investors, including Royal Bank of Canada, Millennium Management, Goldman Sachs, UBS, and Jane Street, expanded their positions. Analysts maintain a consensus “Hold” rating with an average price target of $155.67.

Everus Construction Group (NYSE:ECG - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.14 by $0.50, FiscalAI reports. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.

Everus Construction Group Trading Up 2.5%

Everus Construction Group stock traded up $3.38 during midday trading on Tuesday, hitting $136.00. 967,024 shares of the stock were exchanged, compared to its average volume of 648,700. Everus Construction Group has a fifty-two week low of $69.61 and a fifty-two week high of $171.58. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 31.19 and a beta of 2.23. The stock's 50-day simple moving average is $143.75 and its 200 day simple moving average is $128.33. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38.

Hedge Funds Weigh In On Everus Construction Group

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ECG shares. Weiss Ratings raised shares of Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a research report on Friday, May 8th. Oppenheimer started 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 on the stock. Finally, Freedom Capital cut shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $155.67.

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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