Everus Construction Group, Inc. $ECG Shares Sold by Managed Asset Portfolios LLC

Key Points

• Managed Asset Portfolios LLC reduced its stake in Everus Construction Group by 44.6% in Q4, selling 120,214 shares and now holds 149,465 shares worth about $12.8M, making ECG its 28th largest holding.
• Everus beat expectations in its latest quarter, reporting $1.08 EPS vs. $0.72 expected and $1.01B in revenue (vs. $879.6M expected), with revenue up 33% year-over-year and a 37.06% return on equity.
• Analyst sentiment is mixed-to-positive: the consensus is a Moderate Buy with an average target of $119.60, while individual ratings range from Strong Buy to Hold and several firms initiated coverage with neutral/hold views.

Managed Asset Portfolios LLC lessened its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 44.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 149,465 shares of the company's stock after selling 120,214 shares during the quarter. Everus Construction Group comprises about 1.5% of Managed Asset Portfolios LLC's holdings, making the stock its 28th largest holding. Managed Asset Portfolios LLC owned 0.29% of Everus Construction Group worth $12,788,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in shares of Everus Construction Group in the fourth quarter valued at approximately $28,000. Bessemer Group Inc. increased its holdings in shares of Everus Construction Group by 68.2% in the third quarter. Bessemer Group Inc. now owns 338 shares of the company's stock valued at $29,000 after purchasing an additional 137 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Everus Construction Group in the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its holdings in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Everus Construction Group during the third quarter worth $33,000.

Everus Construction Group Price Performance

ECG stock opened at $136.23 on Monday. The business has a fifty day moving average of $119.49 and a two-hundred day moving average of $100.88. The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 34.58 and a beta of 2.88. Everus Construction Group, Inc. has a 52-week low of $38.51 and a 52-week high of $139.00.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.36. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $879.57 million. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm's quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. As a group, research analysts anticipate that Everus Construction Group, Inc. will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

ECG has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on Everus Construction Group in a research note on Friday, January 23rd. They set a "neutral" rating and a $97.00 target price for the company. Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Everus Construction Group in a research note on Tuesday, April 21st. Guggenheim initiated coverage on Everus Construction Group in a research note on Thursday, January 22nd. They set a "neutral" rating for the company. Finally, Glj Research initiated coverage on Everus Construction Group in a research note on Monday, April 20th. They set a "hold" rating and a $141.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.60.

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. Everus Construction Group is based in BISMARCK, N.D.

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