Sei Investments Co. Has $21.41 Million Stake in Everus Construction Group, Inc. $ECG

Key Points

• Sei Investments increased its Everus Construction Group stake by 27.1% in the first quarter, bringing its holdings to 181,374 shares valued at approximately $21.41 million, or 0.36% of the company.
• Several major institutions also expanded their positions, including Wasatch Advisors, Invesco, First Trust Advisors, and Northwestern Mutual Wealth Management.
• Everus reported strong quarterly results, with EPS of $1.14 versus the $0.81 estimate and revenue of $1.04 billion, up 25.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $155.67.

Sei Investments Co. raised its position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 27.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 181,374 shares of the company's stock after acquiring an additional 38,647 shares during the period. Sei Investments Co. owned about 0.36% of Everus Construction Group worth $21,413,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ECG. Wasatch Advisors LP increased its holdings 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 acquiring an additional 856,912 shares during the last quarter. Invesco Ltd. boosted its stake in shares of 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 period. Alliancebernstein L.P. grew its holdings in shares of Everus Construction Group by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company's stock worth $85,821,000 after purchasing an additional 72,775 shares in the last quarter. First Trust Advisors LP grew its stake in Everus Construction Group by 109.9% during the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock worth $151,225,000 after buying an additional 670,646 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Everus Construction Group by 147,209.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company's stock worth $107,889,000 after acquiring an additional 1,260,117 shares in the last quarter.

Analysts Set New Price Targets

ECG has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 15th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a research report on Friday, May 8th. Freedom Capital cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Cantor Fitzgerald boosted their price objective on Everus Construction Group from $115.00 to $174.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, Glj Research began coverage on Everus Construction Group in a research note on Monday, April 20th. They set a "hold" rating and a $141.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.67.

Everus Construction Group Stock Performance

Everus Construction Group stock opened at $117.12 on Wednesday. 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 1-year low of $68.51 and a 1-year high of $171.58. The firm has a market capitalization of $5.98 billion, a PE ratio of 26.86 and a beta of 2.23. The firm's 50 day simple moving average is $145.85 and its 200 day simple moving average is $127.30.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, analysts expect that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal year.

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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