Everus Construction Group, Inc. $ECG Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 234.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 148,400 shares of the company’s stock after purchasing an additional 104,000 shares during the period. Renaissance Technologies LLC owned approximately 0.29% of Everus Construction Group worth $17,520,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP lifted its position in shares of Everus Construction Group by 39.7% during the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock worth $356,216,000 after purchasing an additional 856,912 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Everus Construction Group by 86.4% in the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after purchasing an additional 832,389 shares in the last quarter. Alliancebernstein L.P. increased its stake in Everus Construction Group by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock worth $85,821,000 after buying an additional 72,775 shares during the period. First Trust Advisors LP increased its stake in Everus Construction Group by 109.9% during the 1st 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 during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Everus Construction Group by 147,209.9% during the 4th 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.

Analysts Set New Price Targets

ECG has been the subject of several recent research reports. Freedom Capital cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Oppenheimer assumed coverage on Everus Construction Group in a report on Thursday, May 28th. They issued an “outperform” rating and a $185.00 target price for the company. Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Cantor Fitzgerald upped their price target on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group has an average rating of “Hold” and an average target price of $155.67.

Everus Construction Group Price Performance

Everus Construction Group stock opened at $123.31 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $144.51 and a 200-day simple moving average of $127.72. The stock has a market cap of $6.29 billion, a P/E ratio of 28.28 and a beta of 2.23. Everus Construction Group, Inc. has a 12-month low of $68.51 and a 12-month high of $171.58.

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