Everus Construction Group, Inc. $ECG Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 88.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,881 shares of the company’s stock after buying an additional 49,279 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Everus Construction Group worth $8,994,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ECG. Gabelli Funds LLC raised its position in shares of Everus Construction Group by 178.8% in the 2nd quarter. Gabelli Funds LLC now owns 94,437 shares of the company’s stock valued at $6,000,000 after purchasing an additional 60,562 shares during the last quarter. Beacon Pointe Advisors LLC grew its position in Everus Construction Group by 6.2% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 163,121 shares of the company’s stock worth $10,363,000 after purchasing an additional 9,499 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Everus Construction Group by 4.5% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 547,056 shares of the company’s stock worth $34,754,000 after purchasing an additional 23,716 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Everus Construction Group by 1,049.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company’s stock valued at $5,209,000 after purchasing an additional 55,463 shares in the last quarter. Finally, Capital International Investors acquired a new position in Everus Construction Group during the 3rd quarter valued at approximately $165,993,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on ECG. 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. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. 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 target price for the company. Guggenheim started coverage on Everus Construction Group in a research report on Thursday, January 22nd. They set a “neutral” rating for the company. Finally, Stifel Nicolaus dropped their price target on Everus Construction Group from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.75.

Everus Construction Group Stock Performance

ECG opened at $117.17 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. Everus Construction Group, Inc. has a 12-month low of $31.38 and a 12-month high of $137.64. The firm has a 50 day moving average of $106.20 and a two-hundred day moving average of $94.41. The firm has a market capitalization of $5.98 billion, a PE ratio of 29.74 and a beta of 3.24.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.08 EPS for the quarter, beating 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $879.57 million. During the same period in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current 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.