Cetera Investment Advisers Increases Position in Everus Construction Group, Inc. $ECG

Key Points

• Cetera Investment Advisers increased its Everus Construction Group stake by 47.7% in the first quarter, adding 11,745 shares to own 36,349 shares valued at approximately $4.29 million.
• Everus reported a strong quarter, with earnings of $1.64 per share versus the $1.14 consensus estimate and revenue of $1.23 billion, up 33.7% year over year.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and six rate it a Hold, producing an overall “Hold” rating and an average price target of $155.67.

Cetera Investment Advisers grew its holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 47.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,349 shares of the company's stock after purchasing an additional 11,745 shares during the quarter. Cetera Investment Advisers owned about 0.07% of Everus Construction Group worth $4,291,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in shares of Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC lifted its position in Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company's stock valued at $26,000 after buying an additional 121 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Everus Construction Group during the fourth quarter worth about $28,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Everus Construction Group during the fourth quarter valued at about $30,000. Finally, McMillan Office Inc. acquired a new stake in shares of Everus Construction Group during the fourth quarter valued at about $43,000.

Everus Construction Group Stock Up 2.5%

Everus Construction Group stock opened at $136.00 on Wednesday. Everus Construction Group, Inc. has a 1-year low of $69.61 and a 1-year high of $171.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71. The stock has a market cap of $6.94 billion, a PE ratio of 31.19 and a beta of 2.37. The stock's fifty day moving average is $143.44 and its two-hundred day moving average is $128.68.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.50. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The company's revenue for the quarter was up 33.7% on a year-over-year basis. On average, sell-side analysts expect that Everus Construction Group, Inc. will post 4.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ECG shares. Glj Research initiated coverage on Everus Construction Group in a research report on Monday, April 20th. They set a "hold" rating and a $141.00 price target for the company. Weiss Ratings raised 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 target price on Everus Construction Group in a report on Friday, May 8th. Guggenheim upgraded shares of Everus Construction Group from a "neutral" rating to a "buy" rating and set a $160.00 price target on the stock in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald boosted their price target on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average 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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