Fifth Third Bancorp Has $3.85 Million Stake in Everus Construction Group, Inc. $ECG

Fifth Third Bancorp lifted its position in Everus Construction Group, Inc. (NYSE:ECG) by 9,475.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 32,653 shares of the company’s stock after buying an additional 32,312 shares during the quarter. Fifth Third Bancorp’s holdings in Everus Construction Group were worth $3,855,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ECG. Nordea Investment Management AB bought a new stake in Everus Construction Group in the fourth quarter worth approximately $4,431,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Everus Construction Group by 120.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock valued at $4,404,000 after purchasing an additional 28,164 shares in the last quarter. Steadtrust LLC bought a new position in shares of Everus Construction Group during the 4th quarter valued at $843,000. Aberdeen Group plc raised its holdings in shares of Everus Construction Group by 76.4% during the 4th quarter. Aberdeen Group plc now owns 197,743 shares of the company’s stock valued at $16,919,000 after purchasing an additional 85,660 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Everus Construction Group in the 4th quarter valued at $393,000.

Everus Construction Group Price Performance

NYSE ECG opened at $133.97 on Friday. Everus Construction Group, Inc. has a 1 year low of $65.27 and a 1 year high of $171.58. The company has a fifty day simple moving average of $149.45 and a 200 day simple moving average of $124.93. 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 market cap of $6.84 billion, a P/E ratio of 30.73 and a beta of 2.23.

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

Wall Street Analyst Weigh In

ECG has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Oppenheimer started coverage on Everus Construction Group in a report on Thursday, May 28th. They set an “outperform” rating and a $185.00 target price on the stock. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Freedom Capital downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group currently has an average 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.