Oak Ridge Investments LLC Purchases New Position in Everus Construction Group, Inc. (NYSE:ECG)

Key Points

• Oak Ridge Investments LLC has acquired a new stake in Everus Construction Group, purchasing 34,848 shares valued at about $1,293,000, which represents approximately 0.07% ownership of the company.
• Analysts have mixed sentiments on Everus Construction Group, with three giving it a "hold" rating and two a "buy" rating; the stock currently has a consensus price target of $73.67.
• In its latest earnings report, Everus reported an EPS of $1.03, significantly surpassing estimates, along with a revenue increase of 31.0% year-over-year.

Oak Ridge Investments LLC purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 34,848 shares of the company's stock, valued at approximately $1,293,000. Oak Ridge Investments LLC owned approximately 0.07% of Everus Construction Group at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tompkins Financial Corp bought a new position in Everus Construction Group during the 1st quarter valued at about $25,000. GAMMA Investing LLC grew its stake in shares of Everus Construction Group by 295.6% during 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 during the last quarter. Concord Wealth Partners bought a new stake in shares of Everus Construction Group during the 1st quarter worth approximately $31,000. Quarry LP bought a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $36,000. Finally, Bangor Savings Bank purchased a new position in Everus Construction Group during the 1st quarter valued at $36,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Everus Construction Group from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. DA Davidson lifted their price objective on shares of Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Stifel Nicolaus boosted 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. Finally, 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 report on Friday, July 18th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.67.

Everus Construction Group Stock Performance

Shares of Everus Construction Group stock opened at $79.14 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average price is $66.62 and its 200-day moving average price is $54.04. The firm has a market cap of $4.04 billion and a P/E ratio of 24.43. Everus Construction Group, Inc. has a 12 month low of $31.38 and a 12 month high of $90.00.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.42. Everus Construction Group had a net margin of 5.07% and a return on equity of 37.22%. The business had revenue of $921.47 million for 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. On average, equities research analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Everus Construction Group 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.

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