Everus Construction Group (NYSE:ECG) Trading Up 10.8% After Better-Than-Expected Earnings

Shares of Everus Construction Group, Inc. (NYSE:ECG) were up 10.8% on Tuesday following a stronger than expected earnings report. The company traded as high as $166.60 and last traded at $167.16. Approximately 1,021,280 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 650,863 shares. The stock had previously closed at $150.93.

The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ECG shares. Guggenheim upgraded Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Stifel Nicolaus upped their price objective on Everus Construction Group to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Wall Street Zen cut Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Everus Construction Group presently has a consensus rating of “Hold” and a consensus price target of $126.33.

Institutional Investors Weigh In On Everus Construction Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new position in shares of Everus Construction Group in the fourth quarter worth about $4,431,000. Capital International Investors purchased a new position in shares of Everus Construction Group in the third quarter worth about $165,993,000. Range Financial Group LLC purchased a new position in shares of Everus Construction Group in the fourth quarter worth about $1,146,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Everus Construction Group by 1,049.4% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company’s stock worth $5,209,000 after purchasing an additional 55,463 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Everus Construction Group by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 198,991 shares of the company’s stock worth $17,063,000 after purchasing an additional 25,140 shares during the last quarter.

Everus Construction Group Stock Performance

The stock has a market capitalization of $8.58 billion, a PE ratio of 42.66 and a beta of 2.55. The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $122.41 and a 200-day moving average price of $102.38.

About Everus Construction Group

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.