Everus Construction Group, Inc. (NYSE:ECG) Short Interest Update

Everus Construction Group, Inc. (NYSE:ECG) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 1,810,787 shares, a growth of 26.2% from the December 31st total of 1,434,322 shares. Currently, 3.6% of the company’s shares are sold short. Based on an average daily volume of 912,752 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 912,752 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Everus Construction Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ECG. Allspring Global Investments Holdings LLC acquired a new position in Everus Construction Group in the second quarter valued at approximately $273,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Everus Construction Group during the 2nd quarter valued at approximately $2,085,000. Bank of Montreal Can lifted its stake 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. Wealth Enhancement Advisory Services LLC purchased a new stake in Everus Construction Group during the second quarter worth $359,000. Finally, Gabelli Funds LLC grew its position in Everus Construction Group by 178.8% during the second quarter. Gabelli Funds LLC now owns 94,437 shares of the company’s stock valued at $6,000,000 after buying an additional 60,562 shares during the period.

Everus Construction Group Stock Up 2.2%

ECG stock traded up $2.04 during trading on Tuesday, reaching $92.68. 444,843 shares of the company traded hands, compared to its average volume of 770,644. The business has a 50 day simple moving average of $90.26 and a 200 day simple moving average of $84.72. Everus Construction Group has a 12 month low of $31.38 and a 12 month high of $103.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 1.76. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 26.25 and a beta of 3.84.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.62 by $0.49. Everus Construction Group had a net margin of 5.18% and a return on equity of 36.74%. The business had revenue of $986.82 million during the quarter, compared to analyst estimates of $830.60 million. During the same period in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 29.7% on a year-over-year basis. On average, equities research analysts anticipate that Everus Construction Group will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ECG shares. Guggenheim initiated coverage on Everus Construction Group in a research report on Thursday, January 22nd. They set a “neutral” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Everus Construction Group in a research note on Thursday, November 6th. Cantor Fitzgerald initiated coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They set a “neutral” rating and a $97.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Everus Construction Group in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Everus Construction Group from $110.00 to $107.00 and set a “buy” rating for the company in a report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Everus Construction Group presently has an average rating of “Hold” and an average target price of $102.75.

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.