First Manhattan CO. LLC. Trims Stake in Everus Construction Group, Inc. $ECG

Key Points

• First Manhattan CO. LLC. has reduced its holdings in Everus Construction Group, Inc. by 18.5%, selling 6,572 shares and now owning approximately 0.06% of the company valued at $1,073,000.
• Everus Construction Group reported $1.03 earnings per share for the most recent quarter, significantly above the consensus estimate of $0.61, with a 31% increase in revenue year-over-year.
• Research analysts have downgraded their ratings, with Zacks Research upgrading Everus Construction Group to a "strong-buy" rating, reflecting positive reassessments of the company's performance.

First Manhattan CO. LLC. decreased its position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,930 shares of the company's stock after selling 6,572 shares during the period. First Manhattan CO. LLC. owned about 0.06% of Everus Construction Group worth $1,073,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tompkins Financial Corp acquired a new position in Everus Construction Group during the first quarter worth about $25,000. GAMMA Investing LLC raised its stake in Everus Construction Group by 295.6% in the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after purchasing an additional 538 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Everus Construction Group in the first quarter valued at about $31,000. Bangor Savings Bank purchased a new stake in shares of Everus Construction Group during the first quarter valued at approximately $36,000. Finally, Garde Capital Inc. purchased a new position in Everus Construction Group during the first quarter valued at $38,000.

Everus Construction Group Stock Up 1.2%

Shares of Everus Construction Group stock traded up $0.89 during trading hours on Monday, reaching $75.06. 302,011 shares of the company were exchanged, compared to its average volume of 635,267. The firm has a market cap of $3.83 billion and a PE ratio of 23.17. The stock's fifty day moving average is $72.00 and its 200 day moving average is $55.73. 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 1 year low of $31.38 and a 1 year high of $90.00.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. DA Davidson raised their price target 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. Stifel Nicolaus increased their price objective 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. Wall Street Zen raised Everus Construction Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Oppenheimer increased their price target on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.