Hawk Ridge Capital Management LP Purchases Shares of 28,000 Everus Construction Group, Inc. $ECG

Hawk Ridge Capital Management LP purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 28,000 shares of the company’s stock, valued at approximately $3,306,000.

Several other hedge funds have also bought and sold shares of ECG. Royal Bank of Canada grew its stake in Everus Construction Group by 155.0% in the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock worth $1,811,000 after buying an additional 29,689 shares in the last quarter. Millennium Management LLC increased its position in shares of Everus Construction Group by 42.7% during the 1st quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock valued at $9,066,000 after purchasing an additional 73,128 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after buying an additional 76,252 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Everus Construction Group by 33.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock worth $5,207,000 after acquiring an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Everus Construction Group by 184.4% in the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after acquiring an additional 46,247 shares during the last quarter.

Everus Construction Group Price Performance

Shares of Everus Construction Group stock opened at $127.27 on Tuesday. 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 company has a market cap of $6.50 billion, a PE ratio of 29.19 and a beta of 2.23. The business has a 50 day moving average of $146.43 and a 200 day moving average of $127.10. Everus Construction Group, Inc. has a 52 week low of $68.51 and a 52 week high of $171.58.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Freedom Capital cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Oppenheimer assumed coverage on Everus Construction Group in a report on Thursday, May 28th. They issued an “outperform” rating and a $185.00 price objective on the stock. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Finally, 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 price target on the stock. One equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.