Amundi Acquires 112,066 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Amundi increased its Everus Construction Group stake by 2,791.2% in the first quarter, purchasing 112,066 additional shares and ending with 116,081 shares valued at approximately $13.7 million. Several other institutional investors also expanded their positions or initiated new ones.
• Analyst sentiment remains mixed, with three Buy ratings and six Holds, producing a consensus rating of Hold and an average price target of $155.67.
• Everus reported quarterly earnings of $1.64 per share, surpassing the $1.14 estimate, while revenue rose 33.7% year over year to $1.23 billion. Shares opened at $136, below their 12-month high of $171.58.

Amundi raised its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 2,791.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,081 shares of the company's stock after purchasing an additional 112,066 shares during the period. Amundi owned 0.23% of Everus Construction Group worth $13,705,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ECG. First Trust Advisors LP boosted its stake in shares of Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock valued at $151,225,000 after buying an additional 670,646 shares during the period. Fifth Third Bancorp increased its stake in Everus Construction Group by 9,475.7% during the 1st quarter. Fifth Third Bancorp now owns 32,653 shares of the company's stock worth $3,855,000 after acquiring an additional 32,312 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Everus Construction Group by 120.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company's stock worth $4,404,000 after acquiring an additional 28,164 shares during the period. GSA Capital Partners LLP acquired a new position in Everus Construction Group in the 4th quarter valued at $924,000. Finally, Jackson Creek Investment Advisors LLC acquired a new position in Everus Construction Group in the 4th quarter valued at $393,000.

Analyst Upgrades and Downgrades

ECG has been the topic of several analyst reports. Cantor Fitzgerald increased their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Zacks Research downgraded Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. 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 objective for the company. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research note on Friday, May 8th. Finally, Glj Research assumed coverage on shares of Everus Construction Group in a report on Monday, April 20th. They issued a "hold" rating and a $141.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group presently has a consensus rating of "Hold" and a consensus price target of $155.67.

Everus Construction Group Stock Up 2.5%

Shares of NYSE ECG opened at $136.00 on Wednesday. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 31.19 and a beta of 2.37. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. Everus Construction Group, Inc. has a 12 month low of $69.61 and a 12 month high of $171.58. The stock has a 50-day moving average price of $143.44 and a two-hundred day moving average price of $128.68.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.50. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The firm's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS. As a group, analysts forecast that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal year.

Everus Construction Group 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. Everus Construction Group is based in BISMARCK, N.D.

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