Gabelli Funds LLC Has $6.10 Million Position in Everus Construction Group, Inc. $ECG

Gabelli Funds LLC cut its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 17.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,668 shares of the company’s stock after selling 10,707 shares during the quarter. Gabelli Funds LLC owned 0.10% of Everus Construction Group worth $6,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wasatch Advisors LP acquired a new stake in Everus Construction Group in the fourth quarter valued at approximately $184,838,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Everus Construction Group by 147,209.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after buying an additional 1,260,117 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Everus Construction Group by 86.4% during the third 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 in the last quarter. First Trust Advisors LP increased its holdings in shares of Everus Construction Group by 109.9% during the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after buying an additional 670,646 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Everus Construction Group by 162.2% in the 4th quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after acquiring an additional 397,268 shares during the last quarter.

Analyst Ratings Changes

ECG has been the topic of several recent research reports. Guggenheim raised Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Thursday, April 30th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Stifel Nicolaus set a $172.00 target price on Everus Construction Group in a research report on Friday, May 8th. 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 on the stock. Finally, Oppenheimer began coverage on Everus Construction Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $185.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.67.

Everus Construction Group Trading Down 2.1%

Shares of NYSE ECG opened at $127.27 on Tuesday. 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 has a 50 day moving average price of $146.43 and a two-hundred day moving average price of $127.10. The stock has a market cap of $6.50 billion, a P/E ratio of 29.19 and a beta of 2.23.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $933.81 million. During the same quarter in the previous year, the business earned $0.72 earnings per share. Everus Construction Group’s revenue was up 25.4% compared to the same quarter last year. As a group, equities analysts forecast that Everus Construction Group, Inc. will post 4.39 EPS for the current year.

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.