Ionic Capital Management LLC Has $827,000 Stake in Everus Construction Group, Inc. $ECG

Key Points

• Ionic Capital Management LLC increased its stake in Everus Construction Group, Inc. by 23.9% in the first quarter, holding a total of 22,303 shares valued at approximately $827,000.
• Everus reported robust earnings with $1.03 earnings per share (EPS) for the quarter, significantly exceeding analysts' estimate of $0.61, along with a revenue of $921.47 million.
• Analysts have raised their target prices for Everus Construction Group, with Oppenheimer setting a new target at $70.00 and Zacks upgrading the stock to a strong-buy rating.

Ionic Capital Management LLC raised its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 23.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,303 shares of the company's stock after purchasing an additional 4,297 shares during the quarter. Ionic Capital Management LLC's holdings in Everus Construction Group were worth $827,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ECG. Westwood Holdings Group Inc. bought a new position in shares of Everus Construction Group during the first quarter worth about $75,089,000. Alliancebernstein L.P. lifted its position in shares of Everus Construction Group by 58.2% during the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company's stock worth $47,405,000 after purchasing an additional 470,025 shares during the last quarter. Invesco Ltd. lifted its position in shares of Everus Construction Group by 7.8% during the first quarter. Invesco Ltd. now owns 1,071,118 shares of the company's stock worth $39,728,000 after purchasing an additional 77,396 shares during the last quarter. Naya Capital Management UK Ltd. bought a new position in shares of Everus Construction Group during the fourth quarter worth about $48,619,000. Finally, Frontier Capital Management Co. LLC bought a new position in shares of Everus Construction Group during the fourth quarter worth about $34,797,000.

Everus Construction Group Stock Up 2.6%

ECG traded up $2.00 during midday trading on Wednesday, hitting $77.91. 226,176 shares of the company's stock traded hands, compared to its average volume of 632,476. The company has a market cap of $3.97 billion and a PE ratio of 24.05. The stock's fifty day simple moving average is $72.49 and its 200-day simple moving average is $56.08. 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, Inc. has a one year low of $31.38 and a one year 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 EPS for the quarter, beating the consensus estimate of $0.61 by $0.42. The company had revenue of $921.47 million for the quarter, compared to the consensus estimate of $749.12 million. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%.The business's revenue for the quarter 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 anticipate that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ECG has been the topic of a number of recent research reports. Wall Street Zen raised shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Stifel Nicolaus increased their target price on Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. 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 research report on Thursday, August 14th. Finally, Oppenheimer increased their target price on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $80.33.

Everus Construction Group Company 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.