Everus Construction Group, Inc. $ECG Shares Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. decreased its stake in Everus Construction Group by 10.0%, selling 43,600 shares and now owning approximately 0.77% of the company's stock worth $25,055,000.
• Everus Construction Group reported a 31.0% increase in quarterly revenue year-over-year, reaching $921.47 million, and topped earnings expectations with an EPS of $1.03.
• Analysts have given Everus Construction Group a consensus rating of "Moderate Buy" with a price target of $82.00, following recent revisions of price targets by firms such as DA Davidson and Stifel Nicolaus.

Hennessy Advisors Inc. reduced its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,375 shares of the company's stock after selling 43,600 shares during the period. Hennessy Advisors Inc. owned approximately 0.77% of Everus Construction Group worth $25,055,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ECG. ZWJ Investment Counsel Inc. acquired a new stake in Everus Construction Group in the second quarter valued at $242,000. Precedent Wealth Partners LLC acquired a new stake in Everus Construction Group in the second quarter valued at $225,000. Hilltop National Bank acquired a new stake in Everus Construction Group in the second quarter valued at $41,000. DMKC Advisory Services LLC acquired a new stake in Everus Construction Group in the second quarter valued at $313,000. Finally, Hudson Value Partners LLC raised its stake in Everus Construction Group by 1.7% in the second quarter. Hudson Value Partners LLC now owns 80,361 shares of the company's stock valued at $5,105,000 after buying an additional 1,347 shares in the last quarter.

Everus Construction Group Stock Down 1.8%

ECG opened at $80.17 on Friday. The business's 50-day simple moving average is $77.23 and its 200-day simple moving average is $61.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77. Everus Construction Group, Inc. has a one year low of $31.38 and a one year high of $90.00. The stock has a market capitalization of $4.09 billion and a P/E ratio of 24.74.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, topping 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 business had revenue of $921.47 million for the quarter, compared to analysts' expectations of $749.12 million. The business's revenue for the quarter was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. Analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. DA Davidson raised their price target on Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Stifel Nicolaus raised their price target on Everus Construction Group from $83.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 14th. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Everus Construction Group in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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