Everus Construction Group, Inc. $ECG Shares Bought by Invesco Ltd.

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% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 about 2.10% of Everus Construction Group worth $39,728,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ECG. Wells Fargo & Company MN purchased a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $3,038,000. Envestnet Asset Management Inc. purchased a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $2,200,000. Cerity Partners LLC purchased a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $577,000. Barclays PLC purchased a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $12,335,000. Finally, Mariner LLC purchased a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $377,000.

Everus Construction Group Price Performance

Everus Construction Group stock traded up $0.2890 during trading hours on Friday, hitting $76.0790. The stock had a trading volume of 352,524 shares, compared to its average volume of 692,051. 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 stock has a market capitalization of $3.88 billion and a price-to-earnings ratio of 23.48. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $90.00. The stock's fifty day moving average is $68.73 and its two-hundred day moving average is $54.30.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.42. The company had revenue of $921.47 million for the quarter, compared to analyst estimates of $749.12 million. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%.The business'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. As a group, analysts predict that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ECG has been the subject of several analyst reports. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Stifel Nicolaus increased their price objective on Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Oppenheimer increased their price objective on 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 increased their price objective on Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen upgraded Everus Construction Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Everus Construction Group presently has a consensus rating of "Moderate Buy" and an average target price of $80.33.

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.