Segall Bryant & Hamill LLC Decreases Stake in Everus Construction Group, Inc. $ECG

Key Points

• Segall Bryant & Hamill LLC cut its Everus Construction Group stake by 53.1% in the first quarter, selling 69,772 shares and retaining 61,738 shares valued at approximately $7.3 million.
• Everus reported strong quarterly results, with EPS of $1.14 versus an $0.81 estimate and revenue of $1.04 billion, up 25.4% year over year.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $155.67, although recent targets range from $160 to $185.

Segall Bryant & Hamill LLC lessened its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 53.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,738 shares of the company's stock after selling 69,772 shares during the period. Segall Bryant & Hamill LLC owned about 0.12% of Everus Construction Group worth $7,289,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wasatch Advisors LP lifted its position in shares of Everus Construction Group by 39.7% during the 1st quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company's stock worth $356,216,000 after purchasing an additional 856,912 shares during the last quarter. Invesco Ltd. increased its holdings in Everus Construction Group by 86.4% in the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company's stock valued at $153,984,000 after buying an additional 832,389 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Everus Construction Group by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company's stock valued at $85,821,000 after buying an additional 72,775 shares during the last quarter. First Trust Advisors LP raised its stake in Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock valued at $151,225,000 after buying an additional 670,646 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Everus Construction Group by 147,209.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company's stock valued at $107,889,000 after buying an additional 1,260,117 shares in the last quarter.

Everus Construction Group Price Performance

Shares of NYSE ECG opened at $125.39 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. Everus Construction Group, Inc. has a twelve month low of $68.51 and a twelve month high of $171.58. The stock has a 50 day moving average of $144.05 and a two-hundred day moving average of $128.00. The stock has a market cap of $6.40 billion, a P/E ratio of 28.76 and a beta of 2.37.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The company's revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, research analysts forecast that Everus Construction Group, Inc. will post 4.39 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ECG shares. Oppenheimer began coverage on Everus Construction Group in a research report on Thursday, May 28th. They set an "outperform" rating and a $185.00 price objective for the company. Cantor Fitzgerald raised their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Guggenheim upgraded Everus Construction Group from a "neutral" rating to a "buy" rating and set a $160.00 target price for the company in a research note on Thursday, April 30th. Stifel Nicolaus set a $172.00 target price on Everus Construction Group in a research note on Friday, May 8th. Finally, Freedom Capital downgraded Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Everus Construction Group has a consensus rating of "Hold" and an average target price of $155.67.

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. Everus Construction Group is based in BISMARCK, N.D.

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