Vanguard Group Inc. Has $443.40 Million Stock Position in Everus Construction Group, Inc. $ECG

Key Points

• Vanguard Group Inc. trimmed its stake in Everus by 1.2%, selling 64,216 shares and now holds 5,182,286 shares—about a 10.16% stake valued at roughly $443.4 million.
• Everus reported a strong quarter—EPS $1.14 vs. $0.81 expected and revenue $1.04 billion vs. $933.8 million, up 25.4% year-over-year—which helped lift the stock about 11.4% and push the price near its 52-week high.
• Analysts are mixed: three Buy vs. five Hold, with a consensus rating of Hold and an average price target of $126.33.

Vanguard Group Inc. lowered its position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,182,286 shares of the company's stock after selling 64,216 shares during the quarter. Vanguard Group Inc. owned 10.16% of Everus Construction Group worth $443,396,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB purchased a new position in shares of Everus Construction Group during the fourth quarter valued at $4,431,000. Capital International Investors purchased a new stake in Everus Construction Group in the 3rd quarter worth about $165,993,000. Range Financial Group LLC acquired a new stake in Everus Construction Group during the 4th quarter worth about $1,146,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Everus Construction Group by 1,049.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company's stock worth $5,209,000 after acquiring an additional 55,463 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Everus Construction Group by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 198,991 shares of the company's stock valued at $17,063,000 after acquiring an additional 25,140 shares in the last quarter.

Everus Construction Group Trading Up 11.4%

NYSE:ECG opened at $168.09 on Wednesday. The company has a market capitalization of $8.58 billion, a P/E ratio of 42.66 and a beta of 2.55. The stock's 50 day moving average price is $123.61 and its 200 day moving average price is $102.93. 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, Inc. has a 52 week low of $43.86 and a 52 week high of $169.85.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, beating 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 net margin of 5.39% and a return on equity of 37.06%. The company's revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, research analysts forecast that Everus Construction Group, Inc. will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

ECG has been the subject of a number of research analyst reports. Zacks Research lowered shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Glj Research started coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a "hold" rating and a $141.00 price objective on the stock. DA Davidson reiterated a "neutral" rating and issued a $102.00 target price on shares of Everus Construction Group in a research report on Wednesday, February 25th. Cantor Fitzgerald initiated coverage on shares of Everus Construction Group in a research note on Friday, January 23rd. They set a "neutral" rating and a $97.00 target price for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Everus Construction Group in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group presently has an average rating of "Hold" and an average price target of $126.33.

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

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