Hsbc Holdings PLC Invests $1.61 Million in Everus Construction Group, Inc. $ECG

Hsbc Holdings PLC acquired a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG) during the 4th quarter, Holdings Channel.com reports. The firm acquired 18,638 shares of the company’s stock, valued at approximately $1,611,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in 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 buying an additional 198 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Everus Construction Group in the fourth quarter valued at approximately $28,000. Flagship Harbor Advisors LLC bought a new stake in shares of Everus Construction Group during the fourth quarter worth $30,000. McMillan Office Inc. acquired a new stake in shares of Everus Construction Group during the fourth quarter worth $43,000. Finally, Signaturefd LLC raised its holdings in shares of Everus Construction Group by 103.1% during the fourth quarter. Signaturefd LLC now owns 721 shares of the company’s stock worth $62,000 after acquiring an additional 366 shares during the period.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $165.89 on Wednesday. The company’s fifty day simple moving average is $151.17 and its 200-day simple moving average is $120.76. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. The firm has a market cap of $8.47 billion, a PE ratio of 38.05 and a beta of 2.32. Everus Construction Group, Inc. has a 12 month low of $60.78 and a 12 month high of $171.58.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research note on Friday, May 8th. Cantor Fitzgerald boosted their price target on Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Guggenheim raised Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Thursday, April 30th. Oppenheimer assumed coverage on Everus Construction Group in a research report on Thursday, May 28th. They set an “outperform” rating and a $185.00 price objective for the company. Finally, Glj Research initiated coverage on Everus Construction Group in a report on Monday, April 20th. They set a “hold” rating and a $141.00 price objective for the company. One 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.67.

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. Everus Construction Group is based in BISMARCK, N.D.