Aberdeen Group plc Acquires 85,660 Shares of Everus Construction Group, Inc. $ECG

Aberdeen Group plc boosted its position in Everus Construction Group, Inc. (NYSE:ECG) by 76.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 197,743 shares of the company’s stock after purchasing an additional 85,660 shares during the period. Aberdeen Group plc owned about 0.39% of Everus Construction Group worth $16,919,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors bought a new position in shares of Everus Construction Group during the 3rd quarter valued at approximately $165,993,000. Invesco Ltd. boosted its holdings in Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after buying an additional 832,389 shares during the period. Merewether Investment Management LP bought a new position in Everus Construction Group in the 3rd quarter worth approximately $24,842,000. Swedbank AB boosted its holdings in Everus Construction Group by 66.7% in the 3rd quarter. Swedbank AB now owns 500,000 shares of the company’s stock worth $42,875,000 after buying an additional 200,000 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Everus Construction Group by 61.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 424,800 shares of the company’s stock worth $36,427,000 after buying an additional 162,100 shares during the period.

Analysts Set New Price Targets

ECG has been the subject of several analyst reports. Stifel Nicolaus cut their price objective on shares of Everus Construction Group from $110.00 to $107.00 and set a “buy” rating for the company in a report on Monday, January 26th. DA Davidson reaffirmed a “neutral” rating and issued a $102.00 price objective on shares of Everus Construction Group in a report on Wednesday, February 25th. Zacks Research raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Cantor Fitzgerald initiated coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.75.

Everus Construction Group Stock Performance

Everus Construction Group stock opened at $120.93 on Tuesday. The firm’s fifty day moving average price is $109.63 and its 200-day moving average price is $96.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76. The stock has a market cap of $6.17 billion, a P/E ratio of 30.69 and a beta of 2.88. Everus Construction Group, Inc. has a fifty-two week low of $32.26 and a fifty-two week high of $137.64.

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, beating the consensus estimate of $0.72 by $0.36. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $879.57 million. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The business’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. On average, equities research analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal 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.