Y Intercept Hong Kong Ltd Purchases New Shares in Everus Construction Group, Inc. (NYSE:ECG)

Key Points

• Y Intercept Hong Kong Ltd acquired 23,997 shares of Everus Construction Group, valued at approximately $890,000, in the first quarter, signaling growing institutional interest in the company.
• Several analysts have recently upgraded their price targets for Everus Construction Group, with Stifel Nicolaus increasing its target from $71.00 to $83.00, indicating positive sentiment towards the stock's performance.
• Everus Construction Group reported a 32.1% year-over-year revenue increase, reaching $826.63 million for the last quarter, while earnings per share surpassed estimates at $0.72.

Y Intercept Hong Kong Ltd acquired a new stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,997 shares of the company's stock, valued at approximately $890,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tompkins Financial Corp acquired a new position in Everus Construction Group in the 1st quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in Everus Construction Group by 295.6% in 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. Concord Wealth Partners acquired a new position in Everus Construction Group in the 1st quarter worth approximately $31,000. Quarry LP acquired a new position in Everus Construction Group in the 4th quarter worth approximately $36,000. Finally, Bangor Savings Bank acquired a new position in Everus Construction Group in the 1st quarter worth approximately $36,000.

Analyst Upgrades and Downgrades

ECG has been the topic of several research reports. Oppenheimer increased their price target on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. DA Davidson raised their price objective on shares of Everus Construction Group from $58.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. 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. Finally, Stifel Nicolaus raised 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $73.67.

Everus Construction Group Stock Performance

Shares of NYSE ECG traded up $1.20 during midday trading on Tuesday, reaching $73.67. 110,385 shares of the stock were exchanged, compared to its average volume of 642,137. Everus Construction Group, Inc. has a twelve month low of $31.38 and a twelve month high of $77.93. The firm has a 50-day simple moving average of $62.98 and a two-hundred day simple moving average of $53.63. 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 (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.29. The business had revenue of $826.63 million for the quarter, compared to analysts' expectations of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The business's revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts predict 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.