Massachusetts Financial Services Co. MA Purchases 156,966 Shares of Everus Construction Group, Inc. (NYSE:ECG)

Massachusetts Financial Services Co. MA boosted its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 60.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 416,192 shares of the company's stock after buying an additional 156,966 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.82% of Everus Construction Group worth $15,437,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Catalyst Capital Advisors LLC raised its holdings in shares of Everus Construction Group by 2.0% in the first quarter. Catalyst Capital Advisors LLC now owns 22,692 shares of the company's stock valued at $842,000 after purchasing an additional 440 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Everus Construction Group by 1.9% in the first quarter. Bleakley Financial Group LLC now owns 29,330 shares of the company's stock valued at $1,088,000 after buying an additional 534 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Everus Construction Group by 295.6% in the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after buying an additional 538 shares in the last quarter. Quarry LP bought a new position in shares of Everus Construction Group in the fourth quarter valued at $36,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Everus Construction Group in the fourth quarter valued at $39,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ECG shares. Stifel Nicolaus raised their target price on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. DA Davidson lifted their price objective on shares of Everus Construction Group from $58.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Oppenheimer lifted their price objective 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. Finally, Wall Street Zen cut shares of Everus Construction Group from a "buy" rating to a "hold" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Everus Construction Group currently has an average rating of "Hold" and a consensus target price of $73.67.

Everus Construction Group Price Performance

ECG stock traded down $0.04 during midday trading on Friday, reaching $69.16. The company had a trading volume of 850,052 shares, compared to its average volume of 663,117. The stock has a 50 day moving average price of $61.43 and a 200-day moving average price of $53.64. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $77.93. The company has a quick ratio of 1.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.60.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.43 by $0.29. The firm had revenue of $826.63 million during the quarter, compared to the consensus estimate of $676.35 million. Everus Construction Group had a return on equity of 33.27% and a net margin of 4.98%. The business's revenue was up 32.1% on a year-over-year basis. Equities research analysts anticipate 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.