First Trust Advisors LP Has $151.22 Million Position in Everus Construction Group, Inc. $ECG

Key Points

• First Trust Advisors LP increased its stake in Everus Construction Group by 109.9% in the first quarter, ending with 1.28 million shares valued at about $151.2 million.
• Everus Construction Group reported strong quarterly results, with EPS of $1.14 versus estimates of $0.81 and revenue of $1.04 billion, topping expectations and rising 25.4% year over year.
• Analysts remain generally positive on ECG, with a Moderate Buy consensus and an average price target of $155.67; recent ratings included upgrades and targets as high as $185.

First Trust Advisors LP lifted its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 109.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,280,916 shares of the company's stock after purchasing an additional 670,646 shares during the period. First Trust Advisors LP owned 2.51% of Everus Construction Group worth $151,225,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ECG. Nordea Investment Management AB purchased a new stake in shares of Everus Construction Group in the fourth quarter valued at about $4,431,000. Fifth Third Bancorp raised its holdings in shares of Everus Construction Group by 9,475.7% in the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company's stock worth $3,855,000 after acquiring an additional 32,312 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Everus Construction Group by 120.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company's stock worth $4,404,000 after acquiring an additional 28,164 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Everus Construction Group during the fourth quarter valued at $393,000. Finally, Aberdeen Group plc increased its position in Everus Construction Group by 76.4% during the 4th quarter. Aberdeen Group plc now owns 197,743 shares of the company's stock worth $16,919,000 after purchasing an additional 85,660 shares in the last quarter.

Everus Construction Group Price Performance

ECG stock opened at $138.20 on Friday. The stock has a 50-day moving average price of $147.39 and a two-hundred day moving average price of $126.56. Everus Construction Group, Inc. has a 12-month low of $67.80 and a 12-month high of $171.58. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. The company has a market cap of $7.05 billion, a PE ratio of 31.70 and a beta of 2.23.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.33. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The company's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. As a group, research analysts predict that Everus Construction Group, Inc. will post 4.39 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ECG shares. Oppenheimer started coverage on shares of Everus Construction Group in a report on Thursday, May 28th. They issued an "outperform" rating and a $185.00 target price on the stock. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 15th. Cantor Fitzgerald raised their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.