Zurcher Kantonalbank Zurich Cantonalbank Sells 378 Shares of Everus Construction Group, Inc. (NYSE:ECG)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 2.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,632 shares of the company’s stock after selling 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Everus Construction Group were worth $506,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP bought a new position in Everus Construction Group during the fourth quarter valued at $120,578,000. Invesco Ltd. purchased a new stake in shares of Everus Construction Group in the fourth quarter worth $65,337,000. Naya Capital Management UK Ltd. purchased a new stake in shares of Everus Construction Group in the fourth quarter worth $48,619,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Everus Construction Group in the fourth quarter worth $34,797,000. Finally, Northern Trust Corp purchased a new stake in shares of Everus Construction Group in the fourth quarter worth $30,076,000.

Everus Construction Group Price Performance

Shares of NYSE:ECG opened at $71.56 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.60. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $77.93. The stock’s 50-day moving average price is $65.38 and its 200-day moving average price is $54.07.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.29. The company had revenue of $826.63 million for the quarter, compared to analysts’ expectations of $676.35 million. Everus Construction Group had a return on equity of 33.27% and a net margin of 4.98%. The firm’s revenue was up 32.1% compared to the same quarter last year. Sell-side analysts expect that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ECG. Stifel Nicolaus increased their target price on Everus Construction Group from $71.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 11th. DA Davidson raised their price objective on Everus Construction Group from $58.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Oppenheimer raised their price objective on Everus Construction Group from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Finally, Wall Street Zen cut Everus Construction Group from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.67.

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.