Bank of New York Mellon Corp Sells 4,647 Shares of Everus Construction Group, Inc. $ECG

Bank of New York Mellon Corp decreased its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 1.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,866 shares of the company’s stock after selling 4,647 shares during the period. Bank of New York Mellon Corp’s holdings in Everus Construction Group were worth $32,569,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Everus Construction Group by 9,475.7% in the 1st quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock worth $3,855,000 after buying an additional 32,312 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Everus Construction Group by 120.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock valued at $4,404,000 after buying an additional 28,164 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Everus Construction Group during the fourth quarter valued at $393,000. Steadtrust LLC bought a new stake in Everus Construction Group in the fourth quarter worth $843,000. Finally, Aberdeen Group plc boosted its holdings in Everus Construction Group by 76.4% in the fourth quarter. Aberdeen Group plc now owns 197,743 shares of the company’s stock worth $16,919,000 after acquiring an additional 85,660 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ECG. Glj Research began coverage on Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Freedom Capital lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price target on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Thursday, April 30th. Finally, Zacks Research raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.67.

Everus Construction Group Stock Up 0.1%

ECG stock opened at $130.10 on Monday. The stock has a market capitalization of $6.64 billion, a P/E ratio of 29.84 and a beta of 2.23. 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 1-year low of $68.51 and a 1-year high of $171.58. The business has a fifty day moving average price of $146.86 and a 200-day moving average price of $126.83.

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