Everus Construction Group, Inc. $ECG Position Increased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in Everus Construction Group, boosting holdings by 9,475.7% in the first quarter to 32,653 shares, worth about $3.86 million.
• Everus Construction Group posted a strong quarterly earnings beat, reporting $1.14 EPS versus the $0.81 consensus and revenue of $1.04 billion, up 25.4% year over year.
• Analyst sentiment remains mixed but constructive: the stock carries a Moderate Buy rating overall, with an average price target of $155.67.

Fifth Third Bancorp grew its position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 9,475.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,653 shares of the company's stock after purchasing an additional 32,312 shares during the period. Fifth Third Bancorp owned approximately 0.06% of Everus Construction Group worth $3,855,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ECG. Geneos Wealth Management Inc. grew its holdings in Everus Construction Group by 105.3% in 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. Root Financial Partners LLC increased its position in Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company's stock valued at $26,000 after acquiring an additional 121 shares during the period. Sound Income Strategies LLC bought a new stake in Everus Construction Group during the 4th quarter valued at $28,000. Flagship Harbor Advisors LLC bought a new stake in Everus Construction Group during the 4th quarter valued at $30,000. Finally, McMillan Office Inc. acquired a new position in Everus Construction Group during the 4th quarter worth $43,000.

Everus Construction Group Stock Performance

Shares of ECG opened at $133.97 on Friday. The company's 50 day moving average price is $149.45 and its 200 day moving average price is $124.93. Everus Construction Group, Inc. has a 52 week low of $65.27 and a 52 week high of $171.58. The company has a market capitalization of $6.84 billion, a PE ratio of 30.73 and a beta of 2.23. 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 quarterly earnings data on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.33. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Research analysts expect that Everus Construction Group, Inc. will post 4.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ECG. Cantor Fitzgerald lifted their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Oppenheimer started coverage on shares of Everus Construction Group in a report on Thursday, May 28th. They issued an "outperform" rating and a $185.00 price target for the company. Freedom Capital cut shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Guggenheim raised shares of Everus Construction Group from a "neutral" rating to a "buy" rating and set a $160.00 price objective on the stock in a research note on Thursday, April 30th. Finally, Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $155.67.

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. Everus Construction Group is based in BISMARCK, N.D.

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