Everus Construction Group (NYSE:ECG) Sets New 12-Month High – Time to Buy?

Shares of Everus Construction Group, Inc. (NYSE:ECG) reached a new 52-week high on Thursday . The stock traded as high as $138.60 and last traded at $137.1050, with a volume of 44759 shares. The stock had previously closed at $132.89.

Analysts Set New Price Targets

Several research firms recently commented on ECG. DA Davidson reiterated a “neutral” rating and issued a $102.00 price objective on shares of Everus Construction Group in a report on Wednesday, February 25th. Zacks Research upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Guggenheim assumed coverage on shares of Everus Construction Group in a research report on Thursday, January 22nd. They set a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everus Construction Group in a research report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Everus Construction Group to $153.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.60.

Everus Construction Group Trading Up 3.3%

The firm has a market capitalization of $7.01 billion, a P/E ratio of 34.81 and a beta of 2.88. The company has a current ratio of 1.76, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $118.16 and a 200-day simple moving average of $100.02.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.36. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $879.57 million. During the same quarter last year, the firm posted $0.67 earnings per share. The firm’s revenue was up 33.0% compared to the same quarter last year. On average, equities research analysts forecast that Everus Construction Group, Inc. will post 4.1 EPS for the current fiscal year.

Institutional Trading of Everus Construction Group

Several hedge funds have recently bought and sold shares of ECG. Wasatch Advisors LP bought a new position in Everus Construction Group in the 4th quarter valued at $184,838,000. Capital International Investors purchased a new stake in shares of Everus Construction Group during the third quarter valued at $165,993,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Everus Construction Group by 147,209.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after purchasing an additional 1,260,117 shares during the last quarter. Invesco Ltd. increased its stake in Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after buying an additional 832,389 shares during the period. Finally, Millennium Management LLC increased its stake in Everus Construction Group by 162.2% in the 4th quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock worth $54,951,000 after buying an additional 397,268 shares during the period.

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.