Victory Capital Management Inc. Buys 248,626 Shares of Everus Construction Group, Inc. (NYSE:ECG)

Victory Capital Management Inc. lifted its holdings in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 2,050.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,752 shares of the company's stock after purchasing an additional 248,626 shares during the quarter. Victory Capital Management Inc. owned 0.51% of Everus Construction Group worth $9,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its stake in shares of Everus Construction Group by 60.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 416,192 shares of the company's stock worth $15,437,000 after purchasing an additional 156,966 shares during the last quarter. Bleakley Financial Group LLC increased its position in Everus Construction Group by 1.9% during the first quarter. Bleakley Financial Group LLC now owns 29,330 shares of the company's stock valued at $1,088,000 after acquiring an additional 534 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Everus Construction Group during the first quarter valued at $890,000. Mutual of America Capital Management LLC purchased a new stake in Everus Construction Group during the first quarter valued at $275,000. Finally, Arizona State Retirement System purchased a new stake in Everus Construction Group during the first quarter valued at $515,000.

Wall Street Analysts Forecast Growth

ECG has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Everus Construction Group from $71.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 11th. DA Davidson upped their price objective on Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Wall Street Zen cut Everus Construction Group from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Oppenheimer upped their price objective on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $73.67.

Everus Construction Group Trading Down 1.5%

ECG stock traded down $1.11 during midday trading on Monday, reaching $72.42. 682,441 shares of the company traded hands, compared to its average volume of 440,593. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $77.93. The company has a current ratio of 1.78, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $62.98 and a 200-day moving average of $53.63.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.29. Everus Construction Group had a return on equity of 33.27% and a net margin of 4.98%. The company had revenue of $826.63 million for the quarter, compared to analysts' expectations of $676.35 million. The company's revenue for the quarter was up 32.1% on a year-over-year basis. On average, sell-side analysts forecast that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

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.