Everus Construction Group, Inc. $ECG Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Everus Construction Group, Inc. (NYSE:ECG) by 44.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,299 shares of the company’s stock after selling 8,339 shares during the quarter. Hsbc Holdings PLC’s holdings in Everus Construction Group were worth $1,194,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new stake in shares of Everus Construction Group in the fourth quarter valued at $184,838,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Everus Construction Group by 147,209.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock valued at $107,889,000 after acquiring an additional 1,260,117 shares during the period. Invesco Ltd. boosted its holdings in Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after acquiring an additional 832,389 shares during the period. Millennium Management LLC grew its position in Everus Construction Group by 162.2% in the 4th quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after acquiring an additional 397,268 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Everus Construction Group during the third quarter worth about $24,842,000.

Everus Construction Group Price Performance

ECG stock opened at $117.12 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71. The firm has a market capitalization of $5.98 billion, a P/E ratio of 26.86 and a beta of 2.23. The business’s 50-day moving average is $145.85 and its two-hundred day moving average is $127.30. Everus Construction Group, Inc. has a 1 year low of $68.51 and a 1 year high of $171.58.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. Analysts anticipate that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ECG. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Freedom Capital downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a report on Friday, May 8th. Glj Research assumed coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price target for the company. Finally, Oppenheimer began coverage on Everus Construction Group in a research report on Thursday, May 28th. They set an “outperform” rating and a $185.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.67.

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. Everus Construction Group is based in BISMARCK, N.D.