Russell Investments Group Ltd. Sells 10,320 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Russell Investments Group Ltd. reduced its stake in Everus Construction Group by 8.7%, now holding 108,847 shares valued at approximately $4.04 million.
• Everus Construction Group reported a quarterly earnings per share of $1.03, significantly exceeding analysts' expectations of $0.61, along with a revenue increase of 31.0% year-over-year.
• Analyst ratings for Everus Construction Group have improved, with several firms upgrading their ratings and price targets, reflecting a positive outlook for the stock.

Russell Investments Group Ltd. decreased its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,847 shares of the company's stock after selling 10,320 shares during the quarter. Russell Investments Group Ltd. owned about 0.21% of Everus Construction Group worth $4,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ECG. Envestnet Asset Management Inc. acquired a new stake in shares of Everus Construction Group in the 4th quarter worth about $2,200,000. Mariner LLC acquired a new stake in shares of Everus Construction Group in the 4th quarter worth about $377,000. NewEdge Advisors LLC acquired a new stake in shares of Everus Construction Group in the 4th quarter worth about $1,070,000. Dimensional Fund Advisors LP acquired a new stake in shares of Everus Construction Group in the 4th quarter worth about $120,578,000. Finally, First Trust Advisors LP acquired a new stake in shares of Everus Construction Group in the 4th quarter worth about $1,416,000.

Everus Construction Group Stock Performance

Shares of ECG stock traded up $2.65 during trading hours on Tuesday, hitting $78.26. 528,203 shares of the company were exchanged, compared to its average volume of 646,865. The firm has a fifty day simple moving average of $69.05 and a 200 day simple moving average of $54.22. The company has a current ratio of 1.77, a quick ratio of 1.69 and a debt-to-equity ratio of 0.53. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. The stock has a market capitalization of $3.99 billion and a price-to-earnings ratio of 24.15.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.61 by $0.42. The company had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The firm'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 predict that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on ECG. Stifel Nicolaus increased their price objective on shares of Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Wall Street Zen upgraded shares of Everus Construction Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Oppenheimer increased their price objective on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, DA Davidson increased their price objective on shares of Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Everus Construction Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.33.

About Everus Construction Group

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.