XTX Topco Ltd Makes New Investment in Everus Construction Group, Inc. (NYSE:ECG)

Key Points

• XTX Topco Ltd acquired a new stake in Everus Construction Group, purchasing 21,585 shares valued at approximately $801,000 during the first quarter.
• Everus Construction Group's stock has received upgrades from several analysts, with Oppenheimer and Stifel Nicolaus raising their price targets to $70.00 and $83.00 respectively.
• The company saw significant financial growth, reporting $826.63 million in revenue for the last quarter, exceeding expectations by over $150 million and marking a 32.1% increase year-over-year.

XTX Topco Ltd acquired a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 21,585 shares of the company's stock, valued at approximately $801,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Everus Construction Group by 40.7% in the 1st quarter. Principal Financial Group Inc. now owns 347,556 shares of the company's stock worth $12,891,000 after acquiring an additional 100,551 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Everus Construction Group by 295.6% during the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after buying an additional 538 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Everus Construction Group during the first quarter valued at $716,000. Arizona State Retirement System purchased a new position in shares of Everus Construction Group during the first quarter valued at $515,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Everus Construction Group by 52.0% during the first quarter. Asset Management One Co. Ltd. now owns 70,905 shares of the company's stock valued at $2,630,000 after buying an additional 24,263 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. DA Davidson lifted their price target on Everus Construction Group from $58.00 to $68.00 and gave the company a "neutral" rating in a 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. Stifel Nicolaus lifted 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. Finally, Oppenheimer lifted 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 investment 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 company currently has a consensus rating of "Hold" and a consensus target price of $73.67.

Everus Construction Group Stock Performance

ECG traded down $0.60 during trading on Friday, reaching $70.93. 177,652 shares of the stock traded hands, compared to its average volume of 631,684. Everus Construction Group, Inc. has a fifty-two week low of $31.38 and a fifty-two week high of $77.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.69. The stock's 50-day simple moving average is $65.38 and its two-hundred day simple moving average is $54.07.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $676.35 million. The company's quarterly revenue was up 32.1% compared to the same quarter last year. Equities research analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS 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.