Principal Financial Group Inc. Grows Stock Holdings in Everus Construction Group, Inc. (NYSE:ECG)

Principal Financial Group Inc. increased its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 40.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 347,556 shares of the company's stock after buying an additional 100,551 shares during the period. Principal Financial Group Inc. owned about 0.68% of Everus Construction Group worth $12,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ECG. Tompkins Financial Corp purchased a new stake in Everus Construction Group during the first quarter worth about $25,000. GAMMA Investing LLC boosted its holdings in Everus Construction Group by 295.6% during the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock worth $27,000 after buying an additional 538 shares in the last quarter. Quarry LP purchased a new stake in Everus Construction Group during the fourth quarter worth about $36,000. Bangor Savings Bank purchased a new stake in Everus Construction Group during the first quarter worth about $36,000. Finally, Garde Capital Inc. purchased a new stake in Everus Construction Group during the first quarter worth about $38,000.

Everus Construction Group Trading Up 2.5%

Shares of NYSE ECG opened at $69.00 on Friday. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $77.93. The company has a quick ratio of 1.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.60. The firm's 50-day moving average is $59.21 and its two-hundred day moving average is $53.61.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.29. The business had revenue of $826.63 million during the quarter, compared to analyst estimates of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The business's quarterly revenue was up 32.1% on a year-over-year basis. Research analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

ECG has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a report on Friday. DA Davidson upped their price target 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.

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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