Summit Global Investments Has $1.22 Million Stock Position in Everus Construction Group, Inc. $ECG

Summit Global Investments reduced its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 30.5% in the first quarter, HoldingsChannel reports. The firm owned 10,309 shares of the company’s stock after selling 4,514 shares during the period. Summit Global Investments’ holdings in Everus Construction Group were worth $1,217,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ECG. Root Financial Partners LLC increased its stake in shares of Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock valued at $26,000 after acquiring an additional 121 shares in the last quarter. Sound Income Strategies LLC bought a new position in Everus Construction Group during the fourth quarter worth $28,000. Flagship Harbor Advisors LLC bought a new position in Everus Construction Group during the fourth quarter worth $30,000. Geneos Wealth Management Inc. grew its holdings in Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Finally, McMillan Office Inc. acquired a new stake in Everus Construction Group in the fourth quarter worth $43,000.

Everus Construction Group Trading Up 3.4%

NYSE:ECG opened at $136.00 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71. Everus Construction Group, Inc. has a one year low of $65.27 and a one year high of $171.58. The company has a market cap of $6.94 billion, a PE ratio of 31.19 and a beta of 2.23. The firm has a 50-day moving average of $148.34 and a 200-day moving average of $125.85.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ECG. Guggenheim upgraded shares of 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 upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Cantor Fitzgerald boosted their target price on Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Finally, Oppenheimer started coverage on Everus Construction Group in a report on Thursday, May 28th. They issued an “outperform” rating and a $185.00 price target on the stock. One investment 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 stock. Based on data from MarketBeat.com, Everus Construction Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

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.