Tudor Investment Corp ET AL Purchases Shares of 11,895 Everus Construction Group, Inc. $ECG

Key Points

• Tudor Investment Corp purchased a new Q3 stake of 11,895 shares in Everus Construction (NYSE:ECG) valued at about $1.02M, joining major institutional buyers including Capital International (~$166M stake) and Invesco (added 832,389 shares to hold ~1.8M shares, ~$154M).
• Shares are trading up (opened $135.74, +3.7%) near a 52-week high after Everus beat expectations with Q results—EPS $1.08 vs. $0.72 and revenue $1.01B (+33% YoY)—and the stock carries a consensus Moderate Buy rating with an average target of $102.75.

Tudor Investment Corp ET AL purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,895 shares of the company's stock, valued at approximately $1,020,000.

Several other large investors have also added to or reduced their stakes in ECG. Capital International Investors bought a new stake in shares of Everus Construction Group during the third quarter valued at approximately $165,993,000. Invesco Ltd. raised its position in shares of Everus Construction Group by 86.4% during 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. Merewether Investment Management LP bought a new stake in shares of Everus Construction Group during the third quarter valued at approximately $24,842,000. Swedbank AB raised its position in shares of Everus Construction Group by 66.7% during the third quarter. Swedbank AB now owns 500,000 shares of the company's stock valued at $42,875,000 after buying an additional 200,000 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Everus Construction Group by 61.7% during the third quarter. Handelsbanken Fonder AB now owns 424,800 shares of the company's stock valued at $36,427,000 after buying an additional 162,100 shares during the last quarter.

Everus Construction Group Trading Up 3.7%

Shares of ECG opened at $135.74 on Wednesday. The company's fifty day moving average is $114.12 and its 200 day moving average is $98.18. Everus Construction Group, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $137.64. The stock has a market capitalization of $6.93 billion, a PE ratio of 34.45 and a beta of 2.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.36. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $879.57 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. Everus Construction Group's quarterly revenue was up 33.0% on a year-over-year basis. Sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ECG shares. Stifel Nicolaus reduced their price objective on shares of Everus Construction Group from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Monday, January 26th. Guggenheim started coverage on shares of Everus Construction Group in a research report on Thursday, January 22nd. They issued a "neutral" rating on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Everus Construction Group in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Finally, Cantor Fitzgerald started coverage on shares of Everus Construction Group in a research report on Friday, January 23rd. They issued a "neutral" rating and a $97.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.75.

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.

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