Handelsbanken Fonder AB Purchases 80,000 Shares of Everus (NYSE:ECG)

Handelsbanken Fonder AB raised its position in shares of Everus (NYSE:ECG - Free Report) by 47.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Everus by 295.6% in the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock worth $27,000 after buying an additional 538 shares in the last quarter. Bangor Savings Bank purchased a new position in shares of Everus in the first quarter worth $36,000. NBC Securities Inc. purchased a new position in shares of Everus in the first quarter worth $168,000. Cascade Investment Advisors Inc. lifted its holdings in shares of Everus by 39.5% in the first quarter. Cascade Investment Advisors Inc. now owns 27,002 shares of the company's stock worth $1,002,000 after buying an additional 7,652 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new position in shares of Everus in the first quarter worth $25,000.

Everus Price Performance

ECG traded down $0.87 during trading hours on Friday, hitting $59.57. The company's stock had a trading volume of 188,528 shares, compared to its average volume of 703,620. The business's 50-day moving average price is $49.67 and its 200-day moving average price is $54.22. Everus has a 12 month low of $31.38 and a 12 month high of $77.93. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47.

Everus (NYSE:ECG - Get Free Report) last announced 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 business had revenue of $826.63 million during the quarter, compared to the consensus estimate of $676.35 million. The business's revenue was up 32.1% compared to the same quarter last year. On average, analysts expect that Everus will post 2.49 EPS for the current fiscal year.

Analysts Set New Price Targets

ECG has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of Everus from $58.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Stifel Nicolaus boosted their price target on shares of Everus from $55.00 to $71.00 and gave the stock a "buy" rating in a research report on Friday, May 16th.

Everus 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.