Public Employees Retirement System of Ohio Reduces Holdings in Everus Construction Group, Inc. $ECG

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Everus Construction Group by 32.9% during the second quarter, now owning approximately 0.11% of the company worth $3,642,000.
• Everus Construction Group reported earnings of $1.03 per share for the last quarter, exceeding the consensus estimate of $0.61, with revenues rising 31.0% year-over-year to $921.47 million.
• Analysts have recently upgraded the stock, with Zacks Research changing its rating from "hold" to "strong-buy," indicating improved investor sentiment towards Everus Construction Group.

Public Employees Retirement System of Ohio trimmed its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 32.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,329 shares of the company's stock after selling 28,057 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.11% of Everus Construction Group worth $3,642,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position 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 worth $27,000 after purchasing an additional 538 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Everus Construction Group during the first quarter worth approximately $31,000. Bangor Savings Bank purchased a new stake in shares of Everus Construction Group during the first quarter worth approximately $36,000. Garde Capital Inc. purchased a new stake in shares of Everus Construction Group during the first quarter worth approximately $38,000. Finally, Parallel Advisors LLC increased its position in shares of Everus Construction Group by 64.4% during the second quarter. Parallel Advisors LLC now owns 1,080 shares of the company's stock worth $69,000 after purchasing an additional 423 shares in the last quarter.

Everus Construction Group Price Performance

ECG opened at $85.74 on Wednesday. The stock's 50-day moving average price is $76.57 and its 200 day moving average price is $60.35. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $90.00. The company has a current ratio of 1.77, a quick ratio of 1.69 and a debt-to-equity ratio of 0.53. The firm has a market cap of $4.37 billion and a price-to-earnings ratio of 26.46.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $921.47 million for the quarter, compared to analyst estimates of $749.12 million. The business's revenue was up 31.0% on a year-over-year basis. Everus Construction Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

ECG has been the topic of a number of recent research reports. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Oppenheimer boosted their price objective on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Stifel Nicolaus boosted their price objective on Everus Construction Group from $83.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. 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, DA Davidson boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Everus Construction Group presently has an average rating of "Moderate Buy" and a consensus price target of $82.00.

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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