First Trust Advisors LP Sells 129,637 Shares of Everus Construction Group, Inc. $ECG

First Trust Advisors LP lowered its position in shares of Everus Construction Group, Inc. (NYSE:ECG) by 19.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 526,716 shares of the company’s stock after selling 129,637 shares during the quarter. First Trust Advisors LP’s holdings in Everus Construction Group were worth $45,166,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its position in Everus Construction Group by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after buying an additional 72,775 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Everus Construction Group by 4.5% during the second quarter. Frontier Capital Management Co. LLC now owns 547,056 shares of the company’s stock worth $34,754,000 after buying an additional 23,716 shares in the last quarter. Swedbank AB raised its stake in shares of Everus Construction Group by 66.7% in the third quarter. Swedbank AB now owns 500,000 shares of the company’s stock valued at $42,875,000 after acquiring an additional 200,000 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of 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 acquiring an additional 162,100 shares in the last quarter. Finally, De Lisle Partners LLP boosted its holdings in shares of Everus Construction Group by 12.1% in the 2nd quarter. De Lisle Partners LLP now owns 342,430 shares of the company’s stock worth $21,940,000 after acquiring an additional 37,025 shares in the last quarter.

Everus Construction Group Stock Performance

Shares of Everus Construction Group stock opened at $117.29 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.76 and a quick ratio of 1.70. The firm has a market cap of $5.98 billion, a P/E ratio of 29.77 and a beta of 3.27. The firm has a 50 day simple moving average of $99.43 and a 200 day simple moving average of $91.00. Everus Construction Group, Inc. has a fifty-two week low of $31.38 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 (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.36. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $879.57 million. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. Sell-side analysts predict that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Guggenheim initiated coverage on Everus Construction Group in a report on Thursday, January 22nd. They set a “neutral” rating for the company. Cantor Fitzgerald initiated coverage on Everus Construction Group in a research note on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price objective on the stock. Wall Street Zen cut Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $102.00 price target on shares of Everus Construction Group in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Everus Construction Group has a consensus rating of “Moderate Buy” and a consensus target price of $102.75.

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.