Bank of New York Mellon Corp Sells 4,647 Shares of Everus Construction Group, Inc. $ECG

Bank of New York Mellon Corp trimmed its position in Everus Construction Group, Inc. (NYSE:ECG) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,866 shares of the company’s stock after selling 4,647 shares during the quarter. Bank of New York Mellon Corp owned 0.54% of Everus Construction Group worth $32,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Everus Construction Group by 155.0% during the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock worth $1,811,000 after purchasing an additional 29,689 shares during the period. Millennium Management LLC grew its stake in shares of Everus Construction Group by 42.7% in the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after purchasing an additional 73,128 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Everus Construction Group by 74.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock valued at $6,631,000 after purchasing an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Everus Construction Group by 33.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock valued at $5,207,000 after purchasing an additional 34,868 shares during the period. Finally, Jane Street Group LLC raised its position in Everus Construction Group by 184.4% during the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock valued at $2,645,000 after purchasing an additional 46,247 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cantor Fitzgerald increased their price objective on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Freedom Capital downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Glj Research began coverage on Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price target for the company. Finally, Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.67.

Everus Construction Group Stock Up 0.1%

Shares of NYSE:ECG opened at $130.10 on Monday. The firm has a market capitalization of $6.64 billion, a P/E ratio of 29.84 and a beta of 2.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. The stock has a 50 day moving average price of $146.86 and a 200-day moving average price of $126.83. Everus Construction Group, Inc. has a 52-week low of $68.51 and a 52-week high of $171.58.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $933.81 million. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts anticipate that Everus Construction Group, Inc. will post 4.39 EPS for the current fiscal year.

Everus Construction Group Company 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.