Everus Construction Group, Inc. $ECG Holdings Boosted by Needham Investment Management LLC

Key Points

• Needham Investment Management LLC increased its stock holdings in Everus Construction Group, Inc. by 5.9%, bringing its total ownership to 122,000 shares, valued at $4.52 million.
• Multiple hedge funds, including Westwood Holdings Group Inc. and Alliancebernstein L.P., also adjusted their positions, with significant increases in their shareholdings during the first quarter of 2023.
• Analysts have recently upgraded Everus Construction Group's ratings, with a consensus price target of $80.33, indicating a generally positive outlook for the stock.

Needham Investment Management LLC boosted its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,000 shares of the company's stock after purchasing an additional 6,750 shares during the period. Needham Investment Management LLC owned approximately 0.24% of Everus Construction Group worth $4,525,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Tompkins Financial Corp purchased a new position in Everus Construction Group in the 1st quarter valued at about $25,000. GAMMA Investing LLC boosted its position in Everus Construction Group by 295.6% in 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. Colonial Trust Co SC purchased a new position in Everus Construction Group in the 4th quarter valued at about $50,000. Concord Wealth Partners purchased a new position in Everus Construction Group in the 1st quarter valued at about $31,000. Finally, CoreCap Advisors LLC purchased a new position in Everus Construction Group in the 4th quarter valued at about $58,000.

Everus Construction Group Stock Up 2.3%

Shares of ECG stock traded up $1.76 during trading hours on Wednesday, hitting $77.67. 433,893 shares of the company were exchanged, compared to its average volume of 633,896. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77. Everus Construction Group, Inc. has a one year low of $31.38 and a one year high of $90.00. The business's 50-day simple moving average is $72.49 and its two-hundred day simple moving average is $56.08. The stock has a market capitalization of $3.96 billion and a price-to-earnings ratio of 23.97.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, topping 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 business had revenue of $921.47 million for the quarter, compared to analysts' expectations of $749.12 million. The business's revenue was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. Sell-side analysts predict that Everus Construction Group, Inc. will post 2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ECG. Stifel Nicolaus upped their price objective on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 11th. DA Davidson upped their price objective on shares of Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Oppenheimer upped their price objective on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen raised shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.