Lord Abbett & CO. LLC Makes New Investment in Everus Construction Group, Inc. $ECG

Key Points

• Lord Abbett & CO. LLC invested approximately $2.43 million in Everus Construction Group, acquiring 65,470 shares, representing about 0.13% ownership in the company.
• Several other institutional investors, including Principal Financial Group and GAMMA Investing LLC, have also increased their stakes in Everus, indicating a growing interest in the company.
• Analysts have mixed ratings on Everus Construction Group, with a consensus rating of "Moderate Buy" and a price target range indicating potential growth in stock value.

Lord Abbett & CO. LLC bought a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 65,470 shares of the company's stock, valued at approximately $2,428,000. Lord Abbett & CO. LLC owned approximately 0.13% of Everus Construction Group at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ECG. Tompkins Financial Corp purchased a new position in Everus Construction Group in the 1st quarter worth approximately $25,000. GAMMA Investing LLC lifted its stake in Everus Construction Group by 295.6% in the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock worth $27,000 after purchasing an additional 538 shares in the last quarter. Concord Wealth Partners purchased a new position in Everus Construction Group in the 1st quarter worth approximately $31,000. Quarry LP purchased a new position in Everus Construction Group in the 4th quarter worth approximately $36,000. Finally, Bangor Savings Bank purchased a new position in Everus Construction Group in the 1st quarter worth approximately $36,000.

Analysts Set New Price Targets

ECG has been the topic of a number of research reports. Oppenheimer raised 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 note on Friday, July 18th. Stifel Nicolaus raised their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Everus Construction Group from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, DA Davidson raised their price target on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Everus Construction Group presently has an average rating of "Moderate Buy" and an average price target of $80.33.

Everus Construction Group Trading Up 2.2%

Everus Construction Group stock traded up $1.66 during trading on Friday, hitting $77.45. The company had a trading volume of 91,831 shares, compared to its average volume of 647,814. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $90.00. The company has a current ratio of 1.77, a quick ratio of 1.69 and a debt-to-equity ratio of 0.53. The company's 50 day simple moving average is $68.40 and its 200-day simple moving average is $54.34. The stock has a market cap of $3.95 billion and a price-to-earnings ratio of 23.94.

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. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The firm had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. The company'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 expect that Everus Construction Group, Inc. will post 2.49 EPS 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.