Everus Construction Group, Inc. $ECG Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in Everus Construction Group by 58.2%, owning over 1.27 million shares valued at approximately $47.4 million as of its latest SEC filing.
• Several brokerages have upgraded Everus Construction Group's rating, with price targets raised to as high as $88.00 and an average consensus price target of $80.33.
• Everus Construction Group reported a strong quarterly performance with $1.03 earnings per share, surpassing expectations and showing a 31.0% year-over-year revenue increase.

Alliancebernstein L.P. boosted its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 58.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,278,096 shares of the company's stock after purchasing an additional 470,025 shares during the quarter. Alliancebernstein L.P. owned about 2.51% of Everus Construction Group worth $47,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new stake in shares of Everus Construction Group in the 1st quarter valued at about $75,089,000. Invesco Ltd. boosted its holdings in shares of Everus Construction Group by 7.8% in the 1st quarter. Invesco Ltd. now owns 1,071,118 shares of the company's stock valued at $39,728,000 after buying an additional 77,396 shares in the last quarter. Naya Capital Management UK Ltd. acquired a new stake in Everus Construction Group in the fourth quarter valued at approximately $48,619,000. Northern Trust Corp acquired a new stake in Everus Construction Group in the fourth quarter valued at approximately $30,076,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Everus Construction Group by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 442,074 shares of the company's stock valued at $16,397,000 after acquiring an additional 30,961 shares in the last quarter.

Everus Construction Group Stock Performance

Shares of ECG stock traded down $0.95 on Friday, hitting $78.25. The company had a trading volume of 92,554 shares, compared to its average volume of 628,766. The firm has a market cap of $3.99 billion and a P/E ratio of 24.18. The company has a 50-day moving average price of $73.05 and a 200-day moving average price of $56.51. The company has a quick ratio of 1.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.53. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $90.00.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer raised their price target on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 6th. Stifel Nicolaus lifted their target price on shares of Everus Construction Group from $83.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday. DA Davidson lifted their price objective on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Finally, Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Everus Construction Group has a consensus rating of "Moderate Buy" and an average price target of $82.00.

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.