Invesco Ltd. Buys 77,396 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Invesco Ltd. increased its stake in Everus Construction Group by 7.8%, owning a total of 1,071,118 shares valued at approximately $39.7 million.
• Several institutional investors, including Wells Fargo and Barclays PLC, have also made new stakes in Everus Construction Group, indicating growing interest in the company.
• Wall Street analysts have expressed a positive outlook with target price increases, suggesting a consensus rating of "Moderate Buy" and an average target price of $80.33.

Invesco Ltd. lifted its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,071,118 shares of the company's stock after purchasing an additional 77,396 shares during the quarter. Invesco Ltd. owned 2.10% of Everus Construction Group worth $39,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ECG. Wells Fargo & Company MN bought a new stake in shares of Everus Construction Group during the 4th quarter valued at approximately $3,038,000. Envestnet Asset Management Inc. bought a new stake in shares of Everus Construction Group during the 4th quarter valued at approximately $2,200,000. Cerity Partners LLC bought a new stake in shares of Everus Construction Group during the 4th quarter valued at approximately $577,000. Barclays PLC acquired a new stake in Everus Construction Group during the 4th quarter worth approximately $12,335,000. Finally, Mariner LLC acquired a new stake in Everus Construction Group during the 4th quarter worth approximately $377,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ECG shares. Oppenheimer lifted their target price on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. DA Davidson set a $88.00 target price on shares of Everus Construction Group and gave the stock a "neutral" rating in a research report on Thursday. Wall Street Zen upgraded shares of Everus Construction Group from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Stifel Nicolaus lifted their target price on shares of Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Everus Construction Group currently has an average rating of "Moderate Buy" and a consensus price target of $80.33.

Everus Construction Group Stock Up 0.7%

Shares of NYSE ECG opened at $76.22 on Tuesday. The company has a market capitalization of $3.89 billion and a P/E ratio of 23.52. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. 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's 50 day moving average price is $67.50 and its 200-day moving average price is $53.99.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.42. The firm had revenue of $921.47 million for the quarter, compared to the consensus estimate of $749.12 million. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The business's revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts forecast that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

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.

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