Essex Investment Management Co. LLC Buys 14,423 Shares of Everus Construction Group, Inc. (NYSE:ECG)

Key Points

• Essex Investment Management Co. LLC increased its holdings in Everus Construction Group, buying an additional 14,423 shares and raising their total to 37,174 shares, worth approximately $1,379,000.
• Everus Construction Group recently reported earnings of $0.72 per share, exceeding estimates by $0.29, along with a revenue increase of 32.1% year-over-year to $826.63 million.
• Several hedge funds, including Vanguard and Dimensional Fund Advisors, recently established new stakes in Everus Construction Group, indicating significant institutional interest in the company.

Essex Investment Management Co. LLC lifted its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 63.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,174 shares of the company's stock after acquiring an additional 14,423 shares during the quarter. Essex Investment Management Co. LLC owned about 0.07% of Everus Construction Group worth $1,379,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Everus Construction Group by 40.7% during the 1st quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock worth $12,891,000 after purchasing an additional 100,551 shares in the last quarter. GAMMA Investing LLC lifted its stake in Everus Construction Group by 295.6% during the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock worth $27,000 after purchasing an additional 538 shares during the period. Janney Montgomery Scott LLC bought a new stake in Everus Construction Group in the first quarter valued at $716,000. Arizona State Retirement System acquired a new position in Everus Construction Group in the first quarter worth $515,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Everus Construction Group by 52.0% in the first quarter. Asset Management One Co. Ltd. now owns 70,905 shares of the company's stock valued at $2,630,000 after buying an additional 24,263 shares in the last quarter.

Everus Construction Group Stock Down 5.5%

Shares of NYSE:ECG traded down $4.12 during midday trading on Friday, hitting $70.14. The company had a trading volume of 637,009 shares, compared to its average volume of 483,985. The firm has a fifty day simple moving average of $64.25 and a 200 day simple moving average of $53.98. Everus Construction Group, Inc. has a 12 month low of $31.38 and a 12 month high of $77.93. The company has a quick ratio of 1.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.60.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.43 by $0.29. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The business had revenue of $826.63 million for the quarter, compared to analysts' expectations of $676.35 million. The firm's quarterly revenue was up 32.1% compared to the same quarter last year. As a group, equities research analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

ECG has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Everus Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Stifel Nicolaus increased their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. DA Davidson upped their price objective on Everus Construction Group from $58.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Oppenheimer increased their price objective on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $73.67.

About Everus Construction Group

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.