Riverwater Partners LLC Acquires New Shares in Everus Construction Group, Inc. (NYSE:ECG)

Riverwater Partners LLC purchased a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,464 shares of the company's stock, valued at approximately $462,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in Everus Construction Group during the 4th quarter worth approximately $365,965,000. Dimensional Fund Advisors LP purchased a new position in Everus Construction Group during the 4th quarter worth approximately $120,578,000. Invesco Ltd. purchased a new position in Everus Construction Group during the 4th quarter worth approximately $65,337,000. Alliancebernstein L.P. purchased a new position in Everus Construction Group during the 4th quarter worth approximately $53,131,000. Finally, American Century Companies Inc. purchased a new position in Everus Construction Group during the 4th quarter worth approximately $49,650,000.

Everus Construction Group Trading Up 2.7%

Shares of NYSE:ECG traded up $1.61 during trading on Monday, reaching $60.79. 380,988 shares of the company traded hands, compared to its average volume of 693,380. The firm has a fifty day simple moving average of $52.29 and a 200 day simple moving average of $53.89. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $77.93. The company has a current ratio of 1.78, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on ECG shares. Stifel Nicolaus lifted their target price on shares of Everus Construction Group from $55.00 to $71.00 and gave the company a "buy" rating in a research note on Friday, May 16th. DA Davidson lifted their target price on shares of Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th.

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.