Everus Construction Group, Inc. $ECG Stock Holdings Boosted by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its stake in Everus Construction Group by 13.8%, owning approximately 0.40% of the company with a value of $7.65 million after acquiring additional shares.
• Multiple hedge funds have also raised their stakes in Everus Construction Group, with Principal Financial Group Inc. increasing its stake by 40.7% to over $12.89 million.
• Analysts have responded positively, with Zacks Research upgrading the stock from a "hold" to a "strong-buy" rating and an average target price set at $80.33.

Baird Financial Group Inc. grew its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 13.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,369 shares of the company's stock after purchasing an additional 25,075 shares during the period. Baird Financial Group Inc. owned approximately 0.40% of Everus Construction Group worth $7,654,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Everus Construction Group by 40.7% during the first quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock valued at $12,891,000 after purchasing an additional 100,551 shares during the period. GAMMA Investing LLC raised its stake in shares of Everus Construction Group by 295.6% during the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after purchasing an additional 538 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Everus Construction Group during the first quarter valued at approximately $716,000. Arizona State Retirement System purchased a new stake in shares of Everus Construction Group during the first quarter valued at approximately $515,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Everus Construction Group by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 442,074 shares of the company's stock valued at $16,397,000 after purchasing an additional 30,961 shares during the period.

Wall Street Analyst Weigh In

ECG has been the topic of several recent analyst reports. DA Davidson upped 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. Stifel Nicolaus upped their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a report 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. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Wall Street Zen raised shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.33.

Everus Construction Group Stock Performance

Shares of NYSE:ECG traded down $1.19 on Tuesday, reaching $73.86. 108,714 shares of the company's stock were exchanged, compared to its average volume of 632,315. The firm has a market capitalization of $3.77 billion and a price-to-earnings ratio of 22.76. Everus Construction Group, Inc. has a fifty-two week low of $31.38 and a fifty-two week high of $90.00. The business's 50-day moving average is $72.23 and its two-hundred day moving average is $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 (NYSE:ECG - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.42. The company had revenue of $921.47 million for the quarter, compared to analysts' expectations of $749.12 million. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. Everus Construction Group's revenue for the quarter 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 forecast that Everus Construction Group, Inc. will post 2.49 EPS for the current 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.