Geode Capital Management LLC Increases Holdings in Everus Construction Group, Inc. $ECG

Geode Capital Management LLC lifted its position in Everus Construction Group, Inc. (NYSE:ECG) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,149,507 shares of the company’s stock after purchasing an additional 29,652 shares during the period. Geode Capital Management LLC owned 2.25% of Everus Construction Group worth $98,369,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ECG. Royal Bank of Canada boosted its holdings in shares of Everus Construction Group by 155.0% in the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock valued at $1,811,000 after purchasing an additional 29,689 shares during the period. Millennium Management LLC raised its stake in Everus Construction Group by 42.7% in the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after buying an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after buying an additional 76,252 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Everus Construction Group by 33.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock worth $5,207,000 after buying an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Everus Construction Group by 184.4% in the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after buying an additional 46,247 shares in the last quarter.

Analyst Ratings Changes

ECG has been the subject of a number of recent research reports. DA Davidson reissued a “neutral” rating and issued a $102.00 price objective on shares of Everus Construction Group in a research note on Wednesday, February 25th. Oppenheimer initiated coverage on shares of Everus Construction Group in a research note on Thursday, May 28th. They issued an “outperform” rating and a $185.00 price objective for the company. Glj Research initiated coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective for the company. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Everus Construction Group has a consensus rating of “Hold” and a consensus target price of $155.67.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $149.76 on Friday. The business’s fifty day simple moving average is $140.91 and its 200-day simple moving average is $112.78. The company has a market cap of $7.64 billion, a PE ratio of 34.35 and a beta of 2.32. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. Everus Construction Group, Inc. has a 12-month low of $58.00 and a 12-month high of $171.58.

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. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Analysts expect that Everus Construction Group, Inc. will post 4.39 earnings per share 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.