Goldman Sachs Group Inc. Buys 76,252 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Goldman Sachs Group Inc. increased its stake in Everus Construction Group, Inc. by 74.4% during the 1st quarter, acquiring an additional 76,252 shares to own approximately 0.35% of the company worth $6.63 million.
• Everus Construction Group reported earnings of $1.03 EPS for the quarter, significantly surpassing analysts' expectations of $0.61, and achieved a 31.0% year-over-year revenue increase.
• Equity analysts have mixed ratings for Everus Construction Group, with a consensus rating of "Moderate Buy" and an average price target of $82.00, reflecting variations in investment sentiment regarding the stock.

Goldman Sachs Group Inc. boosted its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 74.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,790 shares of the company's stock after purchasing an additional 76,252 shares during the period. Goldman Sachs Group Inc. owned about 0.35% of Everus Construction Group worth $6,631,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ECG. Westwood Holdings Group Inc. bought a new position in shares of Everus Construction Group in the 1st quarter valued at about $75,089,000. Alliancebernstein L.P. boosted its holdings in shares of Everus Construction Group by 58.2% during the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company's stock worth $47,405,000 after acquiring an additional 470,025 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Everus Construction Group by 2,050.4% during the first quarter. Victory Capital Management Inc. now owns 260,752 shares of the company's stock worth $9,671,000 after acquiring an additional 248,626 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $16,243,000. Finally, Rudius Management LP bought a new stake in shares of Everus Construction Group during the first quarter worth approximately $7,520,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ECG. Oppenheimer boosted their price objective on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 14th. DA Davidson lifted their price target 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. Finally, Stifel Nicolaus lifted their price target on shares of Everus Construction Group from $83.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $82.00.

Everus Construction Group Price Performance

ECG traded down $0.55 during trading on Friday, hitting $81.34. 96,132 shares of the stock traded hands, compared to its average volume of 621,053. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $90.00. The company has a market cap of $4.15 billion and a price-to-earnings ratio of 25.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 1.69. The business has a 50 day moving average price of $74.41 and a 200 day moving average price of $57.80.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.07% and a return on equity of 35.83%. The business had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. Everus Construction Group's quarterly revenue was up 31.0% on a year-over-year basis. Everus Construction Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

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.