Allspring Global Investments Holdings LLC Acquires 4,978 Shares of Everus Construction Group, Inc. $ECG

Allspring Global Investments Holdings LLC lifted its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 171.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,884 shares of the company’s stock after purchasing an additional 4,978 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Everus Construction Group were worth $989,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Everus Construction Group by 9,475.7% during the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock valued at $3,855,000 after purchasing an additional 32,312 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Everus Construction Group by 120.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock worth $4,404,000 after buying an additional 28,164 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of Everus Construction Group in the 4th quarter worth $393,000. Steadtrust LLC purchased a new stake in shares of Everus Construction Group during the 4th quarter valued at $843,000. Finally, Aberdeen Group plc raised its position in shares of Everus Construction Group by 76.4% during the 4th quarter. Aberdeen Group plc now owns 197,743 shares of the company’s stock valued at $16,919,000 after buying an additional 85,660 shares in the last quarter.

Analyst Upgrades and Downgrades

ECG has been the subject of a number of research analyst reports. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research report on Friday, May 8th. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Oppenheimer assumed coverage on Everus Construction Group in a research report on Thursday, May 28th. They set an “outperform” rating and a $185.00 price target on the stock. Glj Research began coverage on Everus Construction Group in a research note on Monday, April 20th. They set a “hold” rating and a $141.00 price target for the company. Finally, Freedom Capital cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

Everus Construction Group Price Performance

ECG stock opened at $130.10 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. Everus Construction Group, Inc. has a 52 week low of $68.51 and a 52 week high of $171.58. The firm’s fifty day moving average is $146.86 and its 200 day moving average is $126.83. The firm has a market cap of $6.64 billion, a P/E ratio of 29.84 and a beta of 2.23.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Research analysts predict that Everus Construction Group, Inc. will post 4.39 earnings per share 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.