Vanguard Group Inc. Reduces Position in Everus Construction Group, Inc. $ECG

Key Points

• Vanguard Group Inc. has decreased its stake in Everus Construction Group by 2.3%, holding approximately 10.66% of the company after reducing its shares to 5,438,109.
• Everus Construction Group reported strong earnings, with a Q2 EPS of $1.03 that significantly surpassed analyst estimates of $0.61 and revenues rising by 31.0% year-over-year.
• Analysts are optimistic about Everus Construction Group, with multiple research firms upgrading their ratings and price targets, leading to a consensus rating of "Moderate Buy" with a target price of $80.33.

Vanguard Group Inc. trimmed its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,438,109 shares of the company's stock after selling 127,893 shares during the period. Vanguard Group Inc. owned about 10.66% of Everus Construction Group worth $201,699,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Moors & Cabot Inc. raised its stake in shares of Everus Construction Group by 2.3% during the 1st quarter. Moors & Cabot Inc. now owns 17,477 shares of the company's stock worth $648,000 after buying an additional 387 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Everus Construction Group by 2.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 22,692 shares of the company's stock worth $842,000 after buying an additional 440 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Everus Construction Group by 1.9% during the 1st quarter. Bleakley Financial Group LLC now owns 29,330 shares of the company's stock worth $1,088,000 after buying an additional 534 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Everus Construction Group by 295.6% during the 1st quarter. GAMMA Investing LLC now owns 720 shares of the company's stock worth $27,000 after buying an additional 538 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Everus Construction Group during the 4th quarter worth approximately $36,000.

Everus Construction Group Price Performance

NYSE ECG traded up $0.2890 during mid-day trading on Friday, hitting $76.0790. The stock had a trading volume of 352,524 shares, compared to its average volume of 692,051. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $90.00. The company has a market cap of $3.88 billion and a price-to-earnings ratio of 23.48. The company has a 50 day simple moving average of $68.73 and a 200 day simple moving average of $54.30. The company has a quick ratio of 1.69, a current ratio of 1.77 and a debt-to-equity ratio of 0.53.

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

Analyst Upgrades and Downgrades

ECG has been the subject of a number of analyst reports. Oppenheimer increased their target price on Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, July 18th. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Wall Street Zen raised Everus Construction Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Stifel Nicolaus raised their price objective on Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, DA Davidson raised their price objective on Everus Construction Group from $68.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Everus Construction Group has a consensus rating of "Moderate Buy" and a consensus target price of $80.33.

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.