Baird Financial Group Inc. Raises Stake in Everus Construction Group, Inc. $ECG

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

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ECG. 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 boosted their target price on shares of Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 11th. DA Davidson boosted their target price on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Everus Construction Group from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Oppenheimer boosted their target price on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Everus Construction Group has an average rating of "Moderate Buy" and a consensus target price of $80.33.

Everus Construction Group Stock Performance

ECG opened at $75.42 on Thursday. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. The company has a quick ratio of 1.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.53. The company has a market cap of $3.85 billion and a P/E ratio of 23.28. The firm's 50-day moving average price is $71.48 and its 200-day moving average price is $55.22.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, topping 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 company had revenue of $921.47 million for the quarter, compared to the consensus estimate of $749.12 million. The company's revenue for the quarter was up 31.0% on a year-over-year basis. Everus Construction Group has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS 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.

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