Gabelli Funds LLC Increases Stock Position in Everus Construction Group, Inc. $ECG

Gabelli Funds LLC lifted its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 178.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 94,437 shares of the company’s stock after purchasing an additional 60,562 shares during the period. Gabelli Funds LLC’s holdings in Everus Construction Group were worth $6,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Gamco Investors INC. ET AL acquired a new position in Everus Construction Group during the second quarter worth $5,856,000. Beacon Pointe Advisors LLC boosted its position in shares of Everus Construction Group by 6.2% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 163,121 shares of the company’s stock worth $10,363,000 after purchasing an additional 9,499 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Everus Construction Group by 311.2% in the 2nd quarter. Quantbot Technologies LP now owns 17,863 shares of the company’s stock valued at $1,135,000 after purchasing an additional 13,519 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Everus Construction Group by 4.7% in the 2nd quarter. M&T Bank Corp now owns 38,071 shares of the company’s stock valued at $2,419,000 after purchasing an additional 1,694 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in shares of Everus Construction Group by 12.1% in the second quarter. De Lisle Partners LLP now owns 342,430 shares of the company’s stock valued at $21,940,000 after purchasing an additional 37,025 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ECG shares. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded Everus Construction Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. DA Davidson set a $102.00 price objective on Everus Construction Group in a report on Thursday, November 6th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of Everus Construction Group in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Everus Construction Group presently has an average rating of “Moderate Buy” and a consensus target price of $100.33.

Everus Construction Group Trading Up 0.1%

Everus Construction Group stock opened at $91.32 on Wednesday. The stock has a 50-day moving average price of $89.43 and a 200 day moving average price of $77.00. Everus Construction Group, Inc. has a 52 week low of $31.38 and a 52 week high of $103.08. The stock has a market cap of $4.66 billion and a PE ratio of 25.87. The company has a current ratio of 1.76, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.49. The company had revenue of $986.82 million for the quarter, compared to analyst estimates of $830.60 million. Everus Construction Group had a net margin of 5.18% and a return on equity of 36.74%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. Equities research analysts predict that Everus Construction Group, Inc. will post 2.49 earnings per share for the current fiscal year.

Everus Construction Group 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.