Louisiana State Employees Retirement System Makes New Investment in Everus Construction Group, Inc. $ECG

Louisiana State Employees Retirement System acquired a new position in shares of Everus Construction Group, Inc. (NYSE:ECG) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 22,600 shares of the company’s stock, valued at approximately $2,668,000.

Other large investors have also made changes to their positions in the company. Wasatch Advisors LP acquired a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $184,838,000. Capital International Investors acquired a new position in shares of Everus Construction Group in the third quarter valued at $165,993,000. Invesco Ltd. raised 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 purchasing an additional 832,389 shares in the last quarter. Alliancebernstein L.P. lifted its position in Everus Construction Group by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock worth $85,821,000 after purchasing an additional 72,775 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Everus Construction Group by 147,209.9% in 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 period.

Analysts Set New Price Targets

Several brokerages have issued reports on ECG. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, April 30th. Freedom Capital downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Oppenheimer initiated coverage on shares of Everus Construction Group in a research report on Thursday, May 28th. They issued an “outperform” rating and a $185.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.67.

Everus Construction Group Stock Performance

Shares of NYSE:ECG opened at $155.08 on Monday. The business’s fifty day moving average price is $149.79 and its two-hundred day moving average price is $119.79. Everus Construction Group, Inc. has a fifty-two week low of $60.78 and a fifty-two week high of $171.58. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 35.57 and a beta of 2.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71.

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