Nordea Investment Management AB Invests $4.43 Million in Everus Construction Group, Inc. $ECG

Key Points

• Nordea Investment Management AB opened a new position in Everus Construction Group (NYSE:ECG), buying 51,152 shares worth about $4.43 million, roughly 0.10% of the company.
• Everus reported a strong quarter with EPS $1.08 (vs. $0.72 expected) and revenue of $1.01 billion (+33% YoY); the stock has a market cap of $5.88 billion and a P/E of 29.24.
• Analyst coverage is mixed but slightly positive: consensus rating is "Moderate Buy" with an average price target of $102.75 and individual ratings ranging from Strong Buy to Hold.

Nordea Investment Management AB purchased a new position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 51,152 shares of the company's stock, valued at approximately $4,431,000. Nordea Investment Management AB owned about 0.10% of Everus Construction Group at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ECG. Bessemer Group Inc. grew its holdings in Everus Construction Group by 68.2% during the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company's stock worth $29,000 after acquiring an additional 137 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Everus Construction Group in the 3rd quarter valued at $33,000. Country Trust Bank acquired a new position in shares of Everus Construction Group in the 2nd quarter valued at $31,000. Finally, Quent Capital LLC bought a new position in shares of Everus Construction Group in the 3rd quarter worth $53,000.

Everus Construction Group Price Performance

Shares of ECG stock opened at $115.21 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $137.64. The firm has a fifty day moving average of $105.71 and a 200-day moving average of $93.88. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 29.24 and a beta of 3.27.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.72 by $0.36. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $879.57 million. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm's revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, equities research analysts forecast that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ECG. Guggenheim began coverage on Everus Construction Group in a research note on Thursday, January 22nd. They set a "neutral" rating for the company. Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Stifel Nicolaus lowered their price target on Everus Construction Group from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Monday, January 26th. Finally, Cantor Fitzgerald assumed coverage on Everus Construction Group in a research note on Friday, January 23rd. They issued a "neutral" rating and a $97.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Everus Construction Group presently has a consensus rating of "Moderate Buy" and an average target price of $102.75.

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. Everus Construction Group is based in BISMARCK, N.D.

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