First Trust Advisors LP Sells 129,637 Shares of Everus Construction Group, Inc. $ECG

First Trust Advisors LP lowered its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 19.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 526,716 shares of the company’s stock after selling 129,637 shares during the period. First Trust Advisors LP owned approximately 1.03% of Everus Construction Group worth $45,166,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ECG. Swedbank AB increased its stake in Everus Construction Group by 66.7% during the third quarter. Swedbank AB now owns 500,000 shares of the company’s stock valued at $42,875,000 after acquiring an additional 200,000 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Everus Construction Group in the 2nd quarter worth approximately $11,020,000. Handelsbanken Fonder AB lifted its position in shares of Everus Construction Group by 61.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 424,800 shares of the company’s stock worth $36,427,000 after acquiring an additional 162,100 shares during the period. Clifford Capital Partners LLC acquired a new stake in shares of Everus Construction Group during the 2nd quarter worth approximately $8,660,000. Finally, Aberdeen Group plc acquired a new stake in shares of Everus Construction Group during the 3rd quarter worth approximately $9,302,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ECG. DA Davidson restated a “neutral” rating and issued a $102.00 target price on shares of Everus Construction Group in a research note on Wednesday, February 25th. Guggenheim assumed coverage on shares of Everus Construction Group in a research note on Thursday, January 22nd. They set a “neutral” rating on the stock. Cantor Fitzgerald assumed coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. One research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.75.

Everus Construction Group Trading Up 1.3%

ECG stock opened at $117.29 on Thursday. Everus Construction Group, Inc. has a 1-year low of $31.38 and a 1-year high of $137.64. 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 business’s 50 day moving average is $99.43 and its 200-day moving average is $91.00. The firm has a market cap of $5.98 billion, a P/E ratio of 29.77 and a beta of 3.27.

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

Everus Construction Group Company 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.