US Bancorp DE Cuts Stake in Everus Construction Group, Inc. $ECG

Key Points

• US Bancorp DE reduced its stake in Everus Construction Group by 2.3%, owning 416,841 shares valued at approximately $26.48 million after selling 9,976 shares in the second quarter.
• Everus Construction Group's stock has seen a 5.8% decline recently, opening at $82.68, with a twelve-month high of $90.00.
• The company reported quarterly earnings per share of $1.03, significantly exceeding analysts' estimates of $0.61, and has set FY 2025 earnings predictions at 2.49 EPS.

US Bancorp DE decreased its holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 416,841 shares of the company's stock after selling 9,976 shares during the period. US Bancorp DE owned approximately 0.82% of Everus Construction Group worth $26,482,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. KLP Kapitalforvaltning AS raised its holdings in Everus Construction Group by 6.1% in the second quarter. KLP Kapitalforvaltning AS now owns 10,400 shares of the company's stock valued at $661,000 after buying an additional 600 shares during the period. IVC Wealth Advisors LLC purchased a new position in Everus Construction Group in the second quarter valued at approximately $296,000. ZWJ Investment Counsel Inc. purchased a new position in Everus Construction Group in the second quarter valued at approximately $242,000. Precedent Wealth Partners LLC purchased a new position in Everus Construction Group in the second quarter valued at approximately $225,000. Finally, Hilltop National Bank purchased a new position in Everus Construction Group in the second quarter valued at approximately $41,000.

Everus Construction Group Stock Down 5.8%

ECG stock opened at $82.68 on Friday. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $90.00. The company has a current ratio of 1.77, a quick ratio of 1.69 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $4.22 billion and a P/E ratio of 25.52. The firm has a 50 day simple moving average of $78.33 and a 200-day simple moving average of $62.62.

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, topping 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 during the quarter, compared to the consensus estimate of $749.12 million. The company's 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 predict that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ECG shares. Wall Street Zen lowered shares of Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 14th. Stifel Nicolaus increased their price objective on shares of Everus Construction Group from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday. Oppenheimer set a $90.00 price objective on shares of Everus Construction Group and gave the company an "outperform" rating in a research report on Tuesday. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everus Construction Group in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.67.

About Everus Construction Group

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.

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