Everus Construction Group, Inc. (NYSE:ECG) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its position in Everus Construction Group by 0.9%, now owning about 0.84% of the company, valued at $15.83 million.
• Several other institutional investors have also changed their stakes in Everus, with Essex Investment Management Co. LLC increasing its holdings by 63.4%.
• Everus Construction Group's stock has seen an increase in target prices from various analysts, with the consensus price target now at $73.67, while it currently trades at around $70.14.

US Bancorp DE reduced its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,817 shares of the company's stock after selling 4,087 shares during the period. US Bancorp DE owned about 0.84% of Everus Construction Group worth $15,831,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ECG. Arkadios Wealth Advisors acquired a new stake in shares of Everus Construction Group during the first quarter worth $405,000. XTX Topco Ltd acquired a new stake in shares of Everus Construction Group during the first quarter worth $801,000. Essex Investment Management Co. LLC raised its holdings in shares of Everus Construction Group by 63.4% during the first quarter. Essex Investment Management Co. LLC now owns 37,174 shares of the company's stock worth $1,379,000 after purchasing an additional 14,423 shares during the period. Legato Capital Management LLC raised its holdings in shares of Everus Construction Group by 62.5% during the first quarter. Legato Capital Management LLC now owns 11,066 shares of the company's stock worth $410,000 after purchasing an additional 4,256 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Everus Construction Group during the first quarter worth $890,000.

Analyst Ratings Changes

ECG has been the topic of a number of research reports. DA Davidson increased their target price on shares of Everus Construction Group from $58.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Wall Street Zen cut shares of Everus Construction Group from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Oppenheimer upped their price target on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Finally, Stifel Nicolaus upped their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $73.67.

Everus Construction Group Trading Down 5.5%

Everus Construction Group stock opened at $70.14 on Monday. The company has a 50-day simple moving average of $64.25 and a 200-day simple moving average of $53.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.69 and a current ratio of 1.78. Everus Construction Group, Inc. has a one year low of $31.38 and a one year high of $77.93.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.43 by $0.29. The business had revenue of $826.63 million during the quarter, compared to analyst estimates of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The company's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts forecast that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

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.

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