Summit Global Investments Has $1.22 Million Holdings in Everus Construction Group, Inc. $ECG

Summit Global Investments trimmed its position in Everus Construction Group, Inc. (NYSE:ECG) by 30.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,309 shares of the company’s stock after selling 4,514 shares during the period. Summit Global Investments’ holdings in Everus Construction Group were worth $1,217,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Wasatch Advisors LP bought a new position in Everus Construction Group in the fourth quarter valued at about $184,838,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Everus Construction Group by 147,209.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after purchasing an additional 1,260,117 shares during the last quarter. Invesco Ltd. increased its stake in shares of Everus Construction Group by 86.4% in the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after buying an additional 832,389 shares during the period. Millennium Management LLC increased its stake in shares of Everus Construction Group by 162.2% in the fourth quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after buying an additional 397,268 shares during the period. Finally, Merewether Investment Management LP acquired a new position in shares of Everus Construction Group in the third quarter valued at approximately $24,842,000.

Everus Construction Group Stock Performance

NYSE:ECG opened at $136.00 on Wednesday. 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 fifty-two week low of $65.27 and a fifty-two week high of $171.58. The company has a 50 day simple moving average of $148.34 and a two-hundred day simple moving average of $125.85. The company has a market capitalization of $6.94 billion, a PE ratio of 31.19 and a beta of 2.23.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research report on Friday, May 8th. Glj Research initiated coverage on shares of Everus Construction Group in a report on Monday, April 20th. They set a “hold” rating and a $141.00 price target on the stock. Cantor Fitzgerald increased their price objective on Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Finally, Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.67.

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.