Westwood Holdings Group Inc. Acquires New Shares in Everus Construction Group, Inc. (NYSE:ECG)

Key Points

• Westwood Holdings Group Inc. invested approximately $75.09 million in Everus Construction Group, acquiring over 2 million shares and owning 3.97% of the company.
• Everus Construction Group reported a substantial earnings beat with $0.72 EPS for the last quarter, surpassing analysts' expectations of $0.43, and achieving a 32.1% year-over-year revenue growth.
• Several large investors have also recently increased their stakes in Everus Construction Group, indicating growing institutional interest in the company.

Westwood Holdings Group Inc. acquired a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,024,510 shares of the company's stock, valued at approximately $75,089,000. Westwood Holdings Group Inc. owned 3.97% of Everus Construction Group at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Everus Construction Group by 40.7% during the first quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock worth $12,891,000 after purchasing an additional 100,551 shares during the period. GAMMA Investing LLC lifted its position 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 during the period. Janney Montgomery Scott LLC bought a new position in shares of Everus Construction Group during the 1st quarter worth approximately $716,000. Arizona State Retirement System acquired a new stake in Everus Construction Group in the 1st quarter valued at $515,000. Finally, Asset Management One Co. Ltd. grew its position in Everus Construction Group by 52.0% in the first quarter. Asset Management One Co. Ltd. now owns 70,905 shares of the company's stock valued at $2,630,000 after acquiring an additional 24,263 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ECG shares. DA Davidson boosted their target price on shares of Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Oppenheimer boosted their price target on shares of Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Stifel Nicolaus upped their price objective on shares of Everus Construction Group from $71.00 to $83.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut shares of Everus Construction Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $73.67.

Everus Construction Group Stock Down 0.3%

Everus Construction Group stock traded down $0.18 during mid-day trading on Friday, hitting $71.35. The stock had a trading volume of 339,305 shares, compared to its average volume of 501,594. The stock has a 50-day simple moving average of $65.65 and a two-hundred day simple moving average of $54.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.69. Everus Construction Group, Inc. has a 12 month low of $31.38 and a 12 month high of $77.93.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.29. The company had revenue of $826.63 million for the quarter, compared to analyst estimates of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The company's revenue for the quarter was up 32.1% compared to the same quarter last year. On average, research analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

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.