Nixon Capital LLC Buys 117,825 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Nixon Capital LLC increased its stake in Everus Construction Group by 60.3%, acquiring an additional 117,825 shares, bringing its total to 313,236 shares, which makes up 4.0% of its investment portfolio.
• Everus Construction Group reported a 31.0% year-over-year revenue increase, with quarterly revenue reaching $921.47 million and an EPS of $1.03, exceeding estimates.
• Several analysts have raised their target prices for Everus Construction Group, with a consensus rating of "Moderate Buy" and an average target price of $80.33.

Nixon Capital LLC grew its holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 60.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 313,236 shares of the company's stock after buying an additional 117,825 shares during the period. Everus Construction Group accounts for about 4.0% of Nixon Capital LLC's portfolio, making the stock its 13th biggest holding. Nixon Capital LLC owned approximately 0.61% of Everus Construction Group worth $11,618,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Millennium Management LLC lifted its position in shares of Everus Construction Group by 42.7% in the first quarter. Millennium Management LLC now owns 244,421 shares of the company's stock valued at $9,066,000 after buying an additional 73,128 shares during the last quarter. Ionic Capital Management LLC lifted its position in shares of Everus Construction Group by 23.9% in the first quarter. Ionic Capital Management LLC now owns 22,303 shares of the company's stock valued at $827,000 after buying an additional 4,297 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Everus Construction Group by 58.2% in the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company's stock valued at $47,405,000 after buying an additional 470,025 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Everus Construction Group by 90.4% in the first quarter. AQR Capital Management LLC now owns 161,891 shares of the company's stock valued at $5,783,000 after buying an additional 76,857 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in shares of Everus Construction Group by 47.9% in the first quarter. Ancora Advisors LLC now owns 250,145 shares of the company's stock valued at $9,278,000 after buying an additional 80,977 shares during the last quarter.

Everus Construction Group Stock Performance

Shares of NYSE ECG traded up $1.70 during trading hours on Wednesday, reaching $77.61. 265,366 shares of the stock were exchanged, compared to its average volume of 632,849. The firm has a market capitalization of $3.96 billion and a price-to-earnings ratio of 23.97. 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 52 week low of $31.38 and a 52 week high of $90.00. The stock's fifty day simple moving average is $72.49 and its 200 day simple moving average is $56.08.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.42. The company had revenue of $921.47 million for the quarter, compared to analyst estimates of $749.12 million. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%.The company's revenue for the quarter was up 31.0% on a year-over-year basis. 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 year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ECG. Stifel Nicolaus raised their price objective on Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wall Street Zen raised Everus Construction Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Oppenheimer raised their price objective on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. DA Davidson increased their target price on Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Finally, Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $80.33.

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.