Nordea Investment Management AB Acquires New Holdings in Everus Construction Group, Inc. $ECG

Nordea Investment Management AB bought a new position in shares of Everus Construction Group, Inc. (NYSE:ECG) in the fourth quarter, HoldingsChannel reports. The firm bought 51,152 shares of the company’s stock, valued at approximately $4,431,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in Everus Construction Group by 68.2% in the third quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after buying an additional 137 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Everus Construction Group by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Everus Construction Group during the third quarter worth $33,000. Country Trust Bank acquired a new stake in shares of Everus Construction Group during the second quarter worth $31,000. Finally, Quent Capital LLC acquired a new stake in shares of Everus Construction Group during the third quarter worth $53,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ECG shares. DA Davidson reaffirmed a “neutral” rating and issued a $102.00 target price on shares of Everus Construction Group in a research note on Wednesday, February 25th. Zacks Research upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen lowered Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Guggenheim started coverage on Everus Construction Group in a research note on Thursday, January 22nd. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everus Construction Group in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Everus Construction Group has an average rating of “Moderate Buy” and an average price target of $102.75.

Everus Construction Group Price Performance

NYSE:ECG opened at $115.21 on Friday. The stock has a market capitalization of $5.88 billion, a PE ratio of 29.24 and a beta of 3.27. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $137.64. The firm has a fifty day simple moving average of $105.71 and a 200 day simple moving average of $93.88. The company has a current ratio of 1.76, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.36. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $879.57 million. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, research analysts expect that Everus Construction Group, Inc. will post 2.49 EPS for the current fiscal year.

Everus Construction Group 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.