Advisors Asset Management Inc. Trims Stake in Everus Construction Group, Inc. $ECG

Advisors Asset Management Inc. reduced its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 48.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,436 shares of the company's stock after selling 28,776 shares during the period. Advisors Asset Management Inc. owned approximately 0.06% of Everus Construction Group worth $1,129,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tompkins Financial Corp purchased a new position in shares of Everus Construction Group during the 1st quarter valued at $25,000. GAMMA Investing LLC grew its position in shares of Everus Construction Group by 295.6% during the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after purchasing an additional 538 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Everus Construction Group during the 1st quarter valued at $31,000. Bangor Savings Bank purchased a new position in shares of Everus Construction Group during the 1st quarter valued at $36,000. Finally, Garde Capital Inc. purchased a new position in shares of Everus Construction Group during the 1st quarter valued at $38,000.

Everus Construction Group Stock Performance

NYSE ECG opened at $75.06 on Tuesday. The company has a 50-day simple moving average of $72.23 and a two-hundred day simple moving average of $55.95. The company has a quick ratio of 1.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.53. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $90.00. The firm has a market cap of $3.83 billion and a price-to-earnings ratio of 23.17.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.42. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The business had revenue of $921.47 million during the quarter, compared to analyst estimates of $749.12 million. Everus Construction Group's revenue was up 31.0% on a year-over-year basis. Everus Construction Group has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Wall Street Zen raised Everus Construction Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Oppenheimer increased their target price on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Stifel Nicolaus increased their target price on Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, DA Davidson increased their target price on Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.33.

Everus Construction Group Company 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.

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