Swedbank AB Makes New Investment in Everus Construction Group, Inc. $ECG

Key Points

• Swedbank AB acquired a new stake in Everus Construction Group, Inc. by purchasing 300,000 shares valued at approximately $19 million, representing about 0.59% ownership as per its latest SEC filing.
• Several other institutional investors have also increased their stakes, highlighting growing institutional interest in Everus Construction Group, with Parallel Advisors LLC and Goldman Sachs Group Inc. notably boosting their positions significantly.
• Analysts have mixed ratings on Everus Construction Group, with target prices ranging from $66 to $88, reflecting some optimism as the firm reported better-than-expected earnings and revenue growth in its latest quarter.

Swedbank AB purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 300,000 shares of the company's stock, valued at approximately $19,059,000. Swedbank AB owned approximately 0.59% of Everus Construction Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ECG. Westwood Holdings Group Inc. bought a new position in Everus Construction Group during the 1st quarter valued at about $75,089,000. Alliancebernstein L.P. raised its holdings in shares of Everus Construction Group by 58.2% during the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company's stock valued at $47,405,000 after purchasing an additional 470,025 shares during the last quarter. 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 valued at $9,671,000 after purchasing an additional 248,626 shares during the period. Rudius Management LP bought a new position in Everus Construction Group during the first quarter valued at approximately $7,520,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Everus Construction Group in the first quarter worth approximately $6,550,000.

Everus Construction Group Stock Down 1.0%

ECG stock traded down $0.80 during trading on Tuesday, reaching $81.72. 80,647 shares of the company traded hands, compared to its average volume of 621,257. The business has a 50 day simple moving average of $74.94 and a 200 day simple moving average of $58.66. Everus Construction Group, Inc. has a 12 month low of $31.38 and a 12 month high of $90.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77. The company has a market capitalization of $4.17 billion and a price-to-earnings ratio of 25.21.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.42. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The business had revenue of $921.47 million for the quarter, compared to analysts' expectations of $749.12 million. The firm's quarterly revenue was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ECG shares. Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 14th. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Stifel Nicolaus raised their target price on Everus Construction Group from $83.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. DA Davidson increased their price objective on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Finally, Oppenheimer raised their price objective on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. One investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

Everus Construction Group Company 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.