Citigroup Inc. Sells 10,795 Shares of Everus Construction Group, Inc. $ECG

Citigroup Inc. decreased its position in Everus Construction Group, Inc. (NYSE:ECG) by 31.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,853 shares of the company’s stock after selling 10,795 shares during the quarter. Citigroup Inc.’s holdings in Everus Construction Group were worth $2,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. lifted its holdings in Everus Construction Group by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after purchasing an additional 72,775 shares during the last quarter. Frontier Capital Management Co. LLC grew its stake in Everus Construction Group by 4.5% during the second quarter. Frontier Capital Management Co. LLC now owns 547,056 shares of the company’s stock worth $34,754,000 after buying an additional 23,716 shares during the last quarter. Swedbank AB increased its holdings in shares of Everus Construction Group by 66.7% during the third quarter. Swedbank AB now owns 500,000 shares of the company’s stock worth $42,875,000 after buying an additional 200,000 shares in the last quarter. De Lisle Partners LLP increased its holdings in shares of Everus Construction Group by 12.1% during the second quarter. De Lisle Partners LLP now owns 342,430 shares of the company’s stock worth $21,940,000 after buying an additional 37,025 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Everus Construction Group by 22.7% in the third quarter. Teacher Retirement System of Texas now owns 299,696 shares of the company’s stock valued at $25,699,000 after acquiring an additional 55,518 shares during the last quarter.

Everus Construction Group Price Performance

ECG opened at $110.55 on Monday. Everus Construction Group, Inc. has a one year low of $31.38 and a one year high of $137.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.76 and a quick ratio of 1.70. The company’s 50 day simple moving average is $97.68 and its 200-day simple moving average is $90.25. The stock has a market capitalization of $5.64 billion, a P/E ratio of 28.06 and a beta of 3.24.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on ECG. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a research report on Thursday, January 22nd. Cantor Fitzgerald started coverage on Everus Construction Group in a research note on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price objective on the stock. Stifel Nicolaus decreased their target price on Everus Construction Group from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Finally, Wall Street Zen cut 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 given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Everus Construction Group presently has an average rating of “Moderate Buy” and a consensus price target of $102.75.

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.