Legato Capital Management LLC Acquires 4,256 Shares of Everus Construction Group, Inc. (NYSE:ECG)

Key Points

• Legato Capital Management LLC increased its stake in Everus Construction Group by 62.5% during the first quarter, now holding 11,066 shares valued at approximately $410,000.
• Various hedge funds have recently made new investments in Everus Construction Group, with notable stakes of around $2.6 million from Thrivent Financial for Lutherans and $2.1 million from Commonwealth Equity Services LLC.
• Analysts have mixed views on Everus Construction Group, with price targets ranging from $68 to $83, and an average rating of "Hold" for the stock.

Legato Capital Management LLC boosted its holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 62.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,066 shares of the company's stock after acquiring an additional 4,256 shares during the quarter. Legato Capital Management LLC's holdings in Everus Construction Group were worth $410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp purchased a new stake in Everus Construction Group during the 1st quarter valued at $25,000. GAMMA Investing LLC raised its stake in Everus Construction Group by 295.6% during the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after buying an additional 538 shares during the last quarter. Concord Wealth Partners purchased a new stake in Everus Construction Group during the 1st quarter valued at $31,000. Quarry LP purchased a new stake in Everus Construction Group during the 4th quarter valued at $36,000. Finally, Bangor Savings Bank purchased a new stake in Everus Construction Group during the 1st quarter valued at $36,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. DA Davidson boosted their target price on shares of Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wall Street Zen lowered Everus Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Stifel Nicolaus upped their price objective on Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Oppenheimer upped their price objective on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $73.67.

Everus Construction Group Price Performance

Everus Construction Group stock traded up $4.43 during mid-day trading on Friday, hitting $73.43. The stock had a trading volume of 701,828 shares, compared to its average volume of 428,869. The company has a current ratio of 1.78, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60. The firm's 50 day moving average is $62.72 and its 200 day moving average is $53.67. Everus Construction Group, Inc. has a one year low of $31.38 and a one year high of $77.93.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its 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 during the quarter, compared to the consensus estimate of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The company's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 EPS for the current fiscal year.

Everus Construction Group 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.