Bessemer Group Inc. Acquires 20,752 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Bessemer Group Inc. increased its stake in Everus Construction Group by 51.2% in Q1, buying 20,752 additional shares to bring its total holdings to 61,312 shares worth about $7.24 million.
• Everus Construction Group reported better-than-expected quarterly results, with EPS of $1.14 beating estimates and revenue of $1.04 billion topping forecasts; revenue also rose 25.4% year over year.
• Wall Street sentiment is fairly positive, with several analysts upgrading the stock and a consensus rating of Moderate Buy alongside an average price target of $155.67.

Bessemer Group Inc. boosted its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 51.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,312 shares of the company's stock after purchasing an additional 20,752 shares during the period. Bessemer Group Inc. owned 0.12% of Everus Construction Group worth $7,239,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Root Financial Partners LLC grew its holdings in shares of Everus Construction Group by 126.0% during the first quarter. Root Financial Partners LLC now owns 217 shares of the company's stock worth $26,000 after purchasing an additional 121 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Everus Construction Group by 12.6% in the fourth quarter. GAMMA Investing LLC now owns 1,286 shares of the company's stock valued at $110,000 after buying an additional 144 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Everus Construction Group by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,379 shares of the company's stock valued at $888,000 after buying an additional 146 shares during the last quarter. DMKC Advisory Services LLC lifted its position in Everus Construction Group by 4.2% during the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company's stock worth $322,000 after buying an additional 150 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock worth $25,000 after buying an additional 198 shares in the last quarter.

Everus Construction Group Stock Performance

Shares of NYSE:ECG opened at $133.97 on Monday. The stock has a market capitalization of $6.84 billion, a P/E ratio of 30.73 and a beta of 2.23. Everus Construction Group, Inc. has a 1-year low of $65.27 and a 1-year high of $171.58. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $149.45 and a two-hundred day moving average price of $125.18.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.81 by $0.33. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. Everus Construction Group's revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. Equities analysts predict that Everus Construction Group, Inc. will post 4.39 earnings per share for the current year.

Wall Street Analyst Weigh In

ECG has been the subject of several research reports. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 15th. Guggenheim upgraded shares of Everus Construction Group from a "neutral" rating to a "buy" rating and set a $160.00 target price on the stock in a research report on Thursday, April 30th. Weiss Ratings raised shares of Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a report on Friday, May 8th. Finally, Cantor Fitzgerald raised their price target on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a "neutral" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $155.67.

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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