Entropy Technologies LP Decreases Stake in Everus Construction Group, Inc. $ECG

Key Points

• Entropy Technologies LP cut its Everus Construction Group stake by 78.1% in the first quarter, selling 9,951 shares and retaining 2,789 shares valued at approximately $329,000.
• Other institutional investors were more positive, including Renaissance Technologies, which increased its holdings by 234.2%, while Healthcare of Ontario Pension Plan Trust Fund established a new $13.6 million position.
• Everus reported strong quarterly results, with EPS of $1.14 versus the $0.81 estimate and revenue of $1.04 billion, up 25.4% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $155.67.

Entropy Technologies LP lowered its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 78.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,789 shares of the company's stock after selling 9,951 shares during the quarter. Entropy Technologies LP's holdings in Everus Construction Group were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Everus Construction Group in the first quarter worth $13,553,000. Renaissance Technologies LLC raised its holdings in Everus Construction Group by 234.2% during the 1st quarter. Renaissance Technologies LLC now owns 148,400 shares of the company's stock valued at $17,520,000 after buying an additional 104,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Everus Construction Group by 22.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 109,759 shares of the company's stock valued at $12,958,000 after buying an additional 20,033 shares during the last quarter. Sei Investments Co. boosted its position in Everus Construction Group by 27.1% during the 1st quarter. Sei Investments Co. now owns 181,374 shares of the company's stock valued at $21,413,000 after buying an additional 38,647 shares during the period. Finally, Cetera Investment Advisers boosted its position in Everus Construction Group by 47.7% during the 1st quarter. Cetera Investment Advisers now owns 36,349 shares of the company's stock valued at $4,291,000 after buying an additional 11,745 shares during the period.

Analysts Set New Price Targets

ECG has been the topic of a number of analyst reports. Glj Research initiated coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They set a "hold" rating and a $141.00 price objective for the company. Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a research report on Friday, May 8th. Weiss Ratings upgraded Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 7th. Zacks Research cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Oppenheimer initiated coverage on Everus Construction Group in a research note on Thursday, May 28th. They issued an "outperform" rating and a $185.00 price target for the company. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $155.67.

Everus Construction Group Stock Up 13.0%

ECG stock opened at $123.31 on Friday. Everus Construction Group, Inc. has a fifty-two week low of $68.51 and a fifty-two week high of $171.58. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 28.28 and a beta of 2.23. The business's 50 day moving average price is $144.51 and its two-hundred day moving average price is $127.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 37.17% and a net margin of 5.65%.The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. As a group, analysts forecast that Everus Construction Group, Inc. will post 4.39 earnings per share 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. Everus Construction Group is based in BISMARCK, N.D.

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