Ancora Advisors LLC Purchases 80,977 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Ancora Advisors LLC increased its stake in Everus Construction Group by 47.9%, acquiring an additional 80,977 shares, bringing their total holdings to approximately 250,145 shares worth $9,278,000.
• A number of analysts have upgraded their ratings on Everus Construction Group, with DA Davidson setting a new price target of $88.00 and Stifel Nicolaus revising theirs to $83.00, indicating positive sentiment toward the company's future prospects.
• Everus Construction Group reported earnings of $1.03 per share for the latest quarter, significantly exceeding analyst expectations of $0.61, and achieved a revenue of $921.47 million, up 31.0% year-over-year.

Ancora Advisors LLC increased its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 47.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,145 shares of the company's stock after acquiring an additional 80,977 shares during the quarter. Ancora Advisors LLC owned 0.49% of Everus Construction Group worth $9,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tompkins Financial Corp acquired a new position in shares of Everus Construction Group during the 1st quarter worth $25,000. GAMMA Investing LLC grew its stake in Everus Construction Group by 295.6% in the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after buying an additional 538 shares during the last quarter. Concord Wealth Partners acquired a new stake in Everus Construction Group in the 1st quarter worth $31,000. Bangor Savings Bank acquired a new stake in Everus Construction Group in the 1st quarter worth $36,000. Finally, Garde Capital Inc. acquired a new stake in shares of Everus Construction Group during the 1st quarter valued at about $38,000.

Everus Construction Group Trading Up 1.3%

Shares of NYSE ECG traded up $0.99 during midday trading on Monday, reaching $75.16. The stock had a trading volume of 103,441 shares, compared to its average volume of 634,355. 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, Inc. has a twelve month low of $31.38 and a twelve month high of $90.00. The company's 50 day moving average price is $72.00 and its 200 day moving average price is $55.73. The firm has a market cap of $3.83 billion and a price-to-earnings ratio of 23.20.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $921.47 million for the quarter, compared to the consensus estimate of $749.12 million. The company'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, sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ECG. DA Davidson lifted their price target on shares of Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Stifel Nicolaus upped their target price on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Oppenheimer upped their price target on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.