Principal Financial Group Inc. Buys 4,849 Shares of Everus Construction Group, Inc. $ECG

Principal Financial Group Inc. raised its stake in Everus Construction Group, Inc. (NYSE:ECG) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,160 shares of the company’s stock after acquiring an additional 4,849 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Everus Construction Group worth $29,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP bought a new stake in shares of Everus Construction Group during the fourth quarter valued at approximately $184,838,000. Northwestern Mutual Wealth Management Co. raised its position in Everus Construction Group by 147,209.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after purchasing an additional 1,260,117 shares during the last quarter. Invesco Ltd. raised its position 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 purchasing an additional 832,389 shares during the last quarter. Millennium Management LLC lifted its holdings in Everus Construction Group by 162.2% during the 4th quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock worth $54,951,000 after buying an additional 397,268 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in Everus Construction Group in the 3rd quarter valued at $24,842,000.

Wall Street Analyst Weigh In

Several research firms have recently commented on ECG. Stifel Nicolaus set a $172.00 target price on Everus Construction Group in a research note on Friday, May 8th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Glj Research began coverage on Everus Construction Group in a research report on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective for the company. Finally, Oppenheimer started coverage on Everus Construction Group in a report on Thursday, May 28th. They set an “outperform” rating and a $185.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.67.

Everus Construction Group Price Performance

Shares of ECG stock opened at $133.97 on Monday. Everus Construction Group, Inc. has a 52-week low of $65.27 and a 52-week high of $171.58. The stock has a market cap of $6.84 billion, a PE ratio of 30.73 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 firm’s 50 day moving average price is $149.45 and its two-hundred day moving average price is $125.18.

Everus Construction Group (NYSE:ECG) last released its 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. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, analysts forecast that Everus Construction Group, Inc. will post 4.39 EPS for the current 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.