Everus Construction Group, Inc. $ECG Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC increased its position in Everus Construction Group, Inc. (NYSE:ECG) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 126,500 shares of the company’s stock after acquiring an additional 9,000 shares during the quarter. Needham Investment Management LLC’s holdings in Everus Construction Group were worth $10,823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 198 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Everus Construction Group in the 4th quarter worth approximately $28,000. Bessemer Group Inc. grew its holdings in shares of Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock worth $29,000 after acquiring an additional 137 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Everus Construction Group in the 4th quarter worth approximately $30,000. Finally, McMillan Office Inc. acquired a new stake in shares of Everus Construction Group in the 4th quarter worth approximately $43,000.

Wall Street Analyst Weigh In

ECG has been the topic of a number of research reports. Glj Research initiated coverage on Everus Construction Group in a report on Monday, April 20th. They issued a “hold” rating and a $141.00 price target on the stock. Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Oppenheimer began coverage on Everus Construction Group in a report on Thursday, May 28th. They set an “outperform” rating and a $185.00 target price on the stock. Cantor Fitzgerald increased their target price on Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus set a $172.00 target price on Everus Construction Group in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Everus Construction Group currently has a consensus rating of “Hold” and a consensus target price of $155.67.

Everus Construction Group Price Performance

Shares of NYSE:ECG opened at $156.43 on Tuesday. The business’s fifty day moving average price is $144.36 and its two-hundred day moving average price is $115.61. The stock has a market cap of $7.98 billion, a PE ratio of 35.88 and a beta of 2.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. Everus Construction Group, Inc. has a one year low of $58.00 and a one year high of $171.58.

Everus Construction Group (NYSE:ECG) last announced its earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.33. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.Everus Construction Group’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, analysts forecast that Everus Construction Group, Inc. will post 4.39 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.