Alliancebernstein L.P. Buys 470,025 Shares of Everus Construction Group, Inc. $ECG

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 holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 58.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. 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 2.51% of Everus Construction Group worth $47,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ECG. Westwood Holdings Group Inc. acquired a new stake in Everus Construction Group in the 1st quarter worth about $75,089,000. Naya Capital Management UK Ltd. acquired a new stake in Everus Construction Group in the 4th quarter worth about $48,619,000. Northern Trust Corp acquired a new stake in Everus Construction Group in the 4th quarter worth about $30,076,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Everus Construction Group in the 4th quarter worth about $23,074,000. Finally, Victory Capital Management Inc. raised its stake in Everus Construction Group by 2,050.4% in the 1st quarter. Victory Capital Management Inc. now owns 260,752 shares of the company's stock worth $9,671,000 after purchasing an additional 248,626 shares in the last quarter.

Everus Construction Group Price Performance

ECG stock traded up $0.84 during trading on Tuesday, reaching $75.89. 544,585 shares of the company were exchanged, compared to its average volume of 636,501. The company has a 50-day moving average of $72.49 and a two-hundred day moving average of $56.08. The company has a market capitalization of $3.87 billion and a price-to-earnings ratio of 23.42. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve 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.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ECG shares. 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. Wall Street Zen raised shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. DA Davidson raised their target price on shares of Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Oppenheimer raised their target price 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. Finally, Stifel Nicolaus raised their target price on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.33.

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.