Louisiana State Employees Retirement System Takes $2.67 Million Position in Everus Construction Group, Inc. $ECG

Louisiana State Employees Retirement System purchased a new position in Everus Construction Group, Inc. (NYSE:ECG) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 22,600 shares of the company’s stock, valued at approximately $2,668,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new position in Everus Construction Group in the fourth quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Everus Construction Group during the 4th quarter worth about $30,000. Geneos Wealth Management Inc. raised its stake in shares of Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. McMillan Office Inc. acquired a new stake in shares of Everus Construction Group during the 4th quarter valued at about $43,000. Finally, Signaturefd LLC grew its stake in shares of Everus Construction Group by 103.1% in the 4th quarter. Signaturefd LLC now owns 721 shares of the company’s stock valued at $62,000 after buying an additional 366 shares in the last quarter.

Wall Street Analyst Weigh In

ECG has been the topic of several recent research reports. Freedom Capital lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research note on Friday, May 8th. Glj Research assumed coverage on shares of Everus Construction Group in a report on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective for the company. Guggenheim upgraded Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Thursday, April 30th. Finally, Oppenheimer began coverage on Everus Construction Group in a research report on Thursday, May 28th. They issued an “outperform” rating and a $185.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Everus Construction Group presently has an average rating of “Moderate Buy” and an average target price of $155.67.

Everus Construction Group Stock Performance

Shares of ECG opened at $155.08 on Monday. The company has a market capitalization of $7.92 billion, a PE ratio of 35.57 and a beta of 2.33. 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 $60.78 and a one year high of $171.58. The company’s fifty day moving average price is $149.79 and its 200 day moving average price is $119.79.

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