Everus Construction Group, Inc. $ECG Shares Sold by Swedbank AB

Swedbank AB trimmed its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 16.7% during the first quarter, HoldingsChannel reports. The fund owned 300,000 shares of the company’s stock after selling 60,000 shares during the quarter. Swedbank AB’s holdings in Everus Construction Group were worth $35,418,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new position in Everus Construction Group in the fourth quarter worth about $4,431,000. Capital International Investors acquired a new stake in Everus Construction Group during the third quarter valued at approximately $165,993,000. Oppenheimer Asset Management Inc. lifted its holdings in Everus Construction Group by 120.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock worth $4,404,000 after buying an additional 28,164 shares during the last quarter. Range Financial Group LLC bought a new position in Everus Construction Group during the 4th quarter worth approximately $1,146,000. Finally, Steadtrust LLC acquired a new position in shares of Everus Construction Group in the 4th quarter worth approximately $843,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a report on Friday, May 8th. Cantor Fitzgerald raised their price objective on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Thursday, April 30th. Glj Research began coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They set a “hold” rating and a $141.00 target price for the company. Finally, Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Everus Construction Group currently has an average rating of “Moderate Buy” and a consensus target price of $155.67.

Everus Construction Group Stock Performance

Shares of NYSE ECG opened at $134.15 on Thursday. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $151.89 and its two-hundred day moving average price is $122.88. Everus Construction Group, Inc. has a 52-week low of $65.27 and a 52-week high of $171.58. The stock has a market capitalization of $6.85 billion, a P/E ratio of 30.77 and a beta of 2.23.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.81 by $0.33. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The business’s revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, sell-side analysts forecast that Everus Construction Group, Inc. will post 4.39 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. Everus Construction Group is based in BISMARCK, N.D.