Swedbank AB Sells 140,000 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Swedbank AB sold 140,000 shares, trimming its Everus Construction Group stake by 28% to 360,000 shares (about 0.71% of the company) valued at roughly $30.8 million, per its SEC filing.
• Everus reported a strong quarter (May 5) with EPS of $1.14 vs. $0.81 expected and revenue of $1.04B (up 25.4% year-over-year), alongside a 37.17% ROE and 5.65% net margin.
• The stock opened at $158.18 (down 6.5%), has a market cap of $8.07B and a P/E of 36.28, and faces mixed analyst sentiment with a consensus "Hold" and a $138.83 price target (three Buy ratings, six Hold ratings).

Swedbank AB lessened its holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 28.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 360,000 shares of the company's stock after selling 140,000 shares during the quarter. Swedbank AB owned approximately 0.71% of Everus Construction Group worth $30,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ECG. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Everus Construction Group by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,620 shares of the company's stock worth $464,000 after buying an additional 109 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company's stock worth $29,000 after buying an additional 137 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Everus Construction Group by 12.6% in the 4th quarter. GAMMA Investing LLC now owns 1,286 shares of the company's stock worth $110,000 after buying an additional 144 shares during the period. DMKC Advisory Services LLC lifted its holdings in shares of Everus Construction Group by 4.2% in the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company's stock worth $322,000 after buying an additional 150 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Everus Construction Group by 1.1% in the 3rd quarter. Amalgamated Bank now owns 15,531 shares of the company's stock worth $1,332,000 after buying an additional 163 shares during the period.

Everus Construction Group Trading Down 6.5%

Shares of NYSE ECG opened at $158.18 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.70. The stock has a market capitalization of $8.07 billion, a P/E ratio of 36.28 and a beta of 2.55. Everus Construction Group, Inc. has a 1-year low of $47.12 and a 1-year high of $171.58. The business has a fifty day moving average price of $125.94 and a 200 day moving average price of $103.97.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.33. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The firm's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Equities research analysts expect that Everus Construction Group, Inc. will post 4.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ECG has been the subject of several research reports. Glj Research initiated coverage on Everus Construction Group in a report on Monday, April 20th. They issued a "hold" rating and a $141.00 target price for the company. Oppenheimer upped their target price on Everus Construction Group from $120.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday. Stifel Nicolaus upped their target price on Everus Construction Group to $153.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Freedom Capital cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Wall Street Zen cut Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $138.83.

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

Want to see what other hedge funds are holding ECG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everus Construction Group, Inc. (NYSE:ECG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.