Charles Schwab Investment Management Inc. Purchases 30,961 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Everus Construction Group by 7.5%, acquiring an additional 30,961 shares, bringing its total ownership to approximately 442,074 shares valued at about $16.4 million.
• Everus reported strong quarterly earnings, with $1.03 earnings per share, significantly beating estimates of $0.61 and achieving a revenue of $921.47 million, up 31% year-over-year.
• Multiple hedge funds, including Westwood Holdings and Dimensional Fund Advisors, have also recently acquired new stakes in Everus, indicating increased institutional interest in the company.

Charles Schwab Investment Management Inc. lifted its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,074 shares of the company's stock after acquiring an additional 30,961 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Everus Construction Group worth $16,397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new stake in shares of Everus Construction Group in the first quarter valued at $75,089,000. Dimensional Fund Advisors LP purchased a new stake in shares of Everus Construction Group during the 4th quarter worth about $120,578,000. Naya Capital Management UK Ltd. acquired a new position in shares of Everus Construction Group during the 4th quarter worth $48,619,000. Frontier Capital Management Co. LLC bought a new position in Everus Construction Group during the fourth quarter valued at about $34,797,000. Finally, Northern Trust Corp bought a new stake in Everus Construction Group during the fourth quarter worth approximately $30,076,000.

Everus Construction Group Stock Down 0.8%

ECG traded down $0.58 during trading on Monday, reaching $75.53. The company had a trading volume of 343,525 shares, compared to its average volume of 674,586. The company has a market cap of $3.85 billion and a P/E ratio of 23.49. Everus Construction Group, Inc. has a 12 month low of $31.38 and a 12 month high of $90.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 1.69. The business's fifty day moving average price is $69.05 and its 200 day moving average price is $54.22.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.42. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The company had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. The company's quarterly revenue was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. Equities analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ECG. Wall Street Zen upgraded shares of Everus Construction Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. DA Davidson increased their target price on Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Stifel Nicolaus upped their price objective on Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Oppenheimer increased their price objective on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Everus Construction Group has a consensus rating of "Moderate Buy" and a consensus target price of $80.33.

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.