Advisors Asset Management Inc. Sells 28,776 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Advisors Asset Management Inc. has reduced its stake in Everus Construction Group by 48.6%, now holding about 0.06% of the company with holdings valued at $1.13 million.
• Everus Construction Group reported a 31.0% year-over-year revenue increase to $921.47 million and surpassed EPS estimates by $0.42 in its latest earnings report.
• Analysts have raised their price targets on Everus Construction Group, with a consensus target of $82.00, and ratings shifting towards a Moderate Buy.

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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ECG. Westwood Holdings Group Inc. purchased a new stake in Everus Construction Group during the first quarter valued at approximately $75,089,000. Naya Capital Management UK Ltd. purchased a new stake in shares of Everus Construction Group in the fourth quarter worth $48,619,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Everus Construction Group in the fourth quarter worth $23,074,000. Victory Capital Management Inc. increased its stake in shares of Everus Construction Group by 2,050.4% in the first quarter. Victory Capital Management Inc. now owns 260,752 shares of the company's stock worth $9,671,000 after purchasing an additional 248,626 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC bought a new position in shares of Everus Construction Group during the fourth quarter worth $16,243,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ECG shares. DA Davidson upped their target price on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 6th. Oppenheimer upped their target price on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Stifel Nicolaus upped their target price on shares of Everus Construction Group from $83.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, 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. One research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $82.00.

Everus Construction Group Price Performance

Shares of NYSE:ECG traded down $0.54 on Friday, reaching $78.66. The company's stock had a trading volume of 337,068 shares, compared to its average volume of 439,715. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. The company has a market cap of $4.01 billion and a P/E ratio of 24.28. The company has a 50-day simple moving average of $73.32 and a 200 day simple moving average of $56.84. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $749.12 million. Everus Construction Group's revenue was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current fiscal year.

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.