Rivermont Capital Management LP Lowers Holdings in Everus Construction Group, Inc. $ECG

Key Points

• Rivermont Capital Management LP reduced its stake in Everus Construction Group, Inc. by 68.2%, owning 74,096 shares after selling 158,670 shares in the first quarter.
• Everus Construction Group reported $1.03 earnings per share (EPS) for its last quarter, exceeding the consensus estimate by $0.42 and achieving a 31.0% revenue increase year-over-year.
• Recent analyst upgrades have improved Everus Construction Group's ratings, with the stock receiving a consensus rating of "Moderate Buy" and a price target of $80.33.

Rivermont Capital Management LP cut its position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 68.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,096 shares of the company's stock after selling 158,670 shares during the period. Everus Construction Group accounts for 1.2% of Rivermont Capital Management LP's holdings, making the stock its 17th largest position. Rivermont Capital Management LP owned about 0.15% of Everus Construction Group worth $2,748,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Westwood Holdings Group Inc. purchased a new position in Everus Construction Group during the first quarter worth approximately $75,089,000. Naya Capital Management UK Ltd. purchased a new position in Everus Construction Group during the fourth quarter worth approximately $48,619,000. Alliancebernstein L.P. lifted its position in Everus Construction Group by 58.2% during the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company's stock worth $47,405,000 after buying an additional 470,025 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Everus Construction Group during the fourth quarter worth approximately $23,074,000. Finally, Victory Capital Management Inc. lifted its position in Everus Construction Group by 2,050.4% during the first quarter. Victory Capital Management Inc. now owns 260,752 shares of the company's stock worth $9,671,000 after buying an additional 248,626 shares in the last quarter.

Everus Construction Group Trading Down 0.7%

Shares of Everus Construction Group stock traded down $0.54 during trading hours on Friday, hitting $78.66. The company's stock had a trading volume of 337,068 shares, compared to its average volume of 421,863. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $90.00. The firm has a fifty day moving average of $73.32 and a 200-day moving average of $56.95. The stock has a market cap of $4.01 billion and a price-to-earnings ratio of 24.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, beating 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 business had revenue of $921.47 million for the quarter, compared to analyst estimates of $749.12 million. The company's revenue for the quarter was up 31.0% on a year-over-year basis. Everus Construction Group has set its FY 2025 guidance at EPS. Research analysts forecast that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on ECG shares. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Wall Street Zen downgraded Everus Construction Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Oppenheimer lifted their price objective on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. DA Davidson lifted their price objective on Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Finally, Stifel Nicolaus upped 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.