Handelsbanken Fonder AB Increases Position in Everus (NYSE:ECG)

Handelsbanken Fonder AB raised its position in Everus (NYSE:ECG - Free Report) by 47.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the company's stock after purchasing an additional 80,000 shares during the quarter. Handelsbanken Fonder AB owned 0.49% of Everus worth $9,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ECG. SRS Capital Advisors Inc. purchased a new stake in shares of Everus in the 4th quarter valued at $26,000. Principal Securities Inc. purchased a new stake in shares of Everus in the 4th quarter valued at $27,000. HighMark Wealth Management LLC purchased a new stake in Everus during the fourth quarter worth about $28,000. Quarry LP purchased a new stake in Everus during the fourth quarter worth about $36,000. Finally, Blue Trust Inc. purchased a new stake in Everus during the fourth quarter worth about $38,000.

Everus Trading Up 0.4%

Shares of Everus stock traded up $0.22 during trading hours on Monday, reaching $59.76. 322,387 shares of the company were exchanged, compared to its average volume of 701,144. Everus has a 1 year low of $31.38 and a 1 year high of $77.93. The stock's fifty day moving average is $50.16 and its 200 day moving average is $54.12. The company has a quick ratio of 1.50, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Everus (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.29. The company had revenue of $826.63 million for the quarter, compared to analysts' expectations of $676.35 million. The business's revenue for the quarter was up 32.1% on a year-over-year basis. As a group, equities research analysts forecast that Everus will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ECG. DA Davidson boosted their price target on shares of Everus from $58.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Stifel Nicolaus upped their target price on shares of Everus from $55.00 to $71.00 and gave the stock a "buy" rating in a research note on Friday, May 16th.

About Everus

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.