Kornitzer Capital Management Inc. KS Sells 27,800 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Kornitzer Capital Management sold 27,800 shares, cutting its Everus stake by 33.3% to 55,685 shares (about 0.11% of the company), valued at roughly $4.76 million in its latest 13F filing.
• Everus recently beat quarterly expectations, reporting $1.08 EPS vs. $0.72 expected and $1.01 billion in revenue vs. $879.6 million expected, with revenue up 33% year‑over‑year.
• Analysts have a consensus rating of “Hold” with a $126.33 target, while the stock is trading near its 12‑month high (about $149), indicating the market price is above the analyst consensus target.

Kornitzer Capital Management Inc. KS lowered its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,685 shares of the company's stock after selling 27,800 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Everus Construction Group worth $4,764,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Everus Construction Group by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,620 shares of the company's stock worth $464,000 after purchasing an additional 109 shares during the period. Bessemer Group Inc. increased its position in shares of Everus Construction Group by 68.2% in the third quarter. Bessemer Group Inc. now owns 338 shares of the company's stock worth $29,000 after purchasing an additional 137 shares during the period. GAMMA Investing LLC increased its position in shares of Everus Construction Group by 12.6% in the fourth quarter. GAMMA Investing LLC now owns 1,286 shares of the company's stock worth $110,000 after purchasing an additional 144 shares during the period. DMKC Advisory Services LLC increased its position in shares of Everus Construction Group by 4.2% in the fourth quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company's stock worth $322,000 after purchasing an additional 150 shares during the period. Finally, Amalgamated Bank increased its position in shares of Everus Construction Group by 1.1% in the third quarter. Amalgamated Bank now owns 15,531 shares of the company's stock worth $1,332,000 after purchasing an additional 163 shares during the period.

Analyst Ratings Changes

A number of research analysts recently commented on ECG shares. Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Everus Construction Group in a research report on Tuesday, April 21st. DA Davidson reiterated a "neutral" rating and issued a $102.00 target price on shares of Everus Construction Group in a research report on Wednesday, February 25th. Zacks Research cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Cantor Fitzgerald assumed coverage on Everus Construction Group in a research report on Friday, January 23rd. They issued a "neutral" rating and a $97.00 target price on the stock. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $126.33.

Everus Construction Group Stock Performance

Everus Construction Group stock opened at $149.15 on Friday. Everus Construction Group, Inc. has a 12-month low of $43.25 and a 12-month high of $149.88. The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. The business's 50-day moving average price is $122.41 and its two-hundred day moving average price is $102.29. The stock has a market cap of $7.61 billion, a PE ratio of 37.85 and a beta of 2.56.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.36. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $879.57 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. The business's revenue for the quarter was up 33.0% on a year-over-year basis. As a group, analysts expect that Everus Construction Group, Inc. will post 4.1 earnings per share for the current fiscal 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. Everus Construction Group is based in BISMARCK, N.D.

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