Everus Construction Group, Inc. $ECG Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 61.7% in the third quarter, Holdings Channel.com reports. The fund owned 424,800 shares of the company’s stock after buying an additional 162,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Everus Construction Group were worth $36,427,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Everus Construction Group by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 14,079 shares of the company’s stock valued at $894,000 after purchasing an additional 563 shares during the period. Gabelli Funds LLC boosted its stake in Everus Construction Group by 178.8% in the 2nd quarter. Gabelli Funds LLC now owns 94,437 shares of the company’s stock worth $6,000,000 after purchasing an additional 60,562 shares during the period. Beacon Pointe Advisors LLC raised its stake in Everus Construction Group by 6.2% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 163,121 shares of the company’s stock valued at $10,363,000 after purchasing an additional 9,499 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Everus Construction Group by 4.5% in the second quarter. Frontier Capital Management Co. LLC now owns 547,056 shares of the company’s stock worth $34,754,000 after buying an additional 23,716 shares during the period. Finally, AXQ Capital LP acquired a new position in Everus Construction Group during the second quarter valued at $435,000.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ECG shares. Cantor Fitzgerald assumed coverage on shares of Everus Construction Group in a research report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target for the company. Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson reaffirmed a “neutral” rating and set a $102.00 price objective on shares of Everus Construction Group in a research report on Wednesday. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Guggenheim initiated coverage on shares of Everus Construction Group in a report on Thursday, January 22nd. They issued a “neutral” rating for the company. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Everus Construction Group presently has an average rating of “Hold” and an average target price of $102.75.

Everus Construction Group Trading Down 1.3%

Shares of NYSE:ECG opened at $120.59 on Friday. Everus Construction Group, Inc. has a 52-week low of $31.38 and a 52-week high of $137.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.69 and a current ratio of 1.76. The company has a market cap of $6.15 billion, a P/E ratio of 30.61 and a beta of 3.84. The stock’s 50-day moving average is $95.14 and its 200-day moving average is $88.69.

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