Forza Wealth Management LLC Takes $325,000 Position in Everus Construction Group, Inc. $ECG

Key Points

• Forza Wealth Management LLC has taken a new position in Everus Construction Group, purchasing 5,116 shares valued at approximately $325,000 during the second quarter.
• Everus Construction Group reported a significant earnings beat with an EPS of $1.03, surpassing estimates by $0.42, and its revenue grew by 31% compared to the previous year.
• Analysts have varied ratings on Everus, with one analyst issuing a Strong Buy rating, while Stifel Nicolaus raised its price target from $83 to $88 with a Buy recommendation.

Forza Wealth Management LLC purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,116 shares of the company's stock, valued at approximately $325,000.

Other large investors have also made changes to their positions in the company. Westwood Holdings Group Inc. bought a new stake in Everus Construction Group in the first quarter valued at about $75,089,000. Alliancebernstein L.P. increased its holdings in Everus Construction Group by 58.2% in the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company's stock valued at $47,405,000 after purchasing an additional 470,025 shares during the last quarter. Swedbank AB bought a new stake in Everus Construction Group in the second quarter valued at about $19,059,000. Victory Capital Management Inc. increased its holdings in Everus Construction Group by 2,050.4% in the first quarter. Victory Capital Management Inc. now owns 260,752 shares of the company's stock valued at $9,671,000 after purchasing an additional 248,626 shares during the last quarter. Finally, Rudius Management LP bought a new stake in Everus Construction Group in the first quarter valued at about $7,520,000.

Everus Construction Group Stock Up 3.3%

NYSE:ECG opened at $85.74 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77. The company has a market cap of $4.37 billion and a PE ratio of 26.46. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. The stock has a 50-day simple moving average of $76.57 and a 200 day simple moving average of $60.35.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.61 by $0.42. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%.The firm had revenue of $921.47 million during the quarter, compared to analysts' expectations of $749.12 million. The firm's revenue for the quarter was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on ECG shares. Wall Street Zen downgraded Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 14th. Stifel Nicolaus increased their price target on Everus Construction Group from $83.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Oppenheimer increased their price target on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. DA Davidson increased their price target on Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Finally, Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.00.

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.

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