First Manhattan CO. LLC. Sells 6,572 Shares of 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. reduced its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,930 shares of the company's stock after selling 6,572 shares during the quarter. First Manhattan CO. LLC. owned about 0.06% of Everus Construction Group worth $1,073,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in shares of Everus Construction Group during the first quarter worth approximately $75,089,000. Naya Capital Management UK Ltd. acquired a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $48,619,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $34,797,000. Northern Trust Corp acquired a new stake in Everus Construction Group in the fourth quarter valued at approximately $30,076,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Everus Construction Group in the fourth quarter valued at approximately $23,074,000.

Everus Construction Group Trading Down 0.7%

NYSE ECG traded down $0.51 during mid-day trading on Tuesday, reaching $74.54. 118,421 shares of the stock were exchanged, compared to its average volume of 632,342. Everus Construction Group, Inc. has a one year low of $31.38 and a one year high of $90.00. The stock has a 50 day simple moving average of $72.23 and a 200-day simple moving average of $55.95. The stock has a market cap of $3.80 billion and a P/E ratio of 22.87. 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 (NYSE:ECG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.42. The firm had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The firm'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. On average, analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ECG shares. DA Davidson raised their target price on shares of Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Stifel Nicolaus raised their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Oppenheimer raised their price target on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research note 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.33.

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.