Precedent Wealth Partners LLC Acquires New Shares in Everus Construction Group, Inc. $ECG

Key Points

• Precedent Wealth Partners LLC acquired 3,543 shares of Everus Construction Group, Inc. valued at approximately $225,000 during the 2nd quarter, indicating growing interest from institutional investors.
• Everus Construction Group reported a significant increase in revenue, posting $921.47 million for the quarter, up 31.0% from the previous year, and exceeding analysts' estimates.
• Analysts have adjusted price targets and ratings for Everus Construction Group, with Zacks Research upgrading it to a "strong-buy" rating, reflecting increased confidence in the company's performance.

Precedent Wealth Partners LLC acquired a new stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,543 shares of the company's stock, valued at approximately $225,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in 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. Signaturefd LLC boosted its stake in shares of Everus Construction Group by 91.6% during the second quarter. Signaturefd LLC now owns 435 shares of the company's stock valued at $28,000 after purchasing an additional 208 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Everus Construction Group during the first quarter valued at about $31,000. Bangor Savings Bank acquired a new stake in shares of Everus Construction Group during the first quarter valued at about $36,000. Finally, Garde Capital Inc. acquired a new stake in shares of Everus Construction Group during the first quarter valued at about $38,000.

Everus Construction Group Price Performance

Shares of ECG opened at $80.17 on Friday. Everus Construction Group, Inc. has a 1 year low of $31.38 and a 1 year high of $90.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 1.69. The company has a market capitalization of $4.09 billion and a price-to-earnings ratio of 24.74. The business has a 50-day moving average of $77.23 and a 200-day moving average of $61.24.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.42. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%.The company had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. The firm's revenue for the quarter was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

ECG has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on Everus Construction Group from $83.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Everus Construction Group in a research note on Saturday, September 27th. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Wall Street Zen lowered Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 14th. Finally, Oppenheimer lifted their price target on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Everus Construction Group has a consensus rating of "Moderate Buy" and an average target price of $82.00.

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.

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