Gabelli Funds LLC Sells 28,960 Shares of Everus Construction Group, Inc. $ECG

Gabelli Funds LLC lessened its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 31.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,375 shares of the company’s stock after selling 28,960 shares during the quarter. Gabelli Funds LLC’s holdings in Everus Construction Group were worth $5,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Everus Construction Group by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,620 shares of the company’s stock valued at $464,000 after purchasing an additional 109 shares during the last quarter. Bessemer Group Inc. grew its holdings in Everus Construction Group by 68.2% during the third quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after purchasing an additional 137 shares during the last quarter. GAMMA Investing LLC grew its holdings in Everus Construction Group by 12.6% during the fourth quarter. GAMMA Investing LLC now owns 1,286 shares of the company’s stock valued at $110,000 after purchasing an additional 144 shares during the last quarter. DMKC Advisory Services LLC grew its holdings in Everus Construction Group by 4.2% during the fourth quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock valued at $322,000 after purchasing an additional 150 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Everus Construction Group by 1.1% during the third quarter. Amalgamated Bank now owns 15,531 shares of the company’s stock valued at $1,332,000 after purchasing an additional 163 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on ECG. Oppenheimer increased their price target on Everus Construction Group from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Freedom Capital downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Cantor Fitzgerald increased 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. Finally, Wall Street Zen downgraded Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Everus Construction Group presently has a consensus rating of “Hold” and a consensus price target of $154.83.

Everus Construction Group Trading Up 1.7%

Shares of ECG stock opened at $148.75 on Thursday. Everus Construction Group, Inc. has a 1 year low of $55.31 and a 1 year high of $171.58. The firm’s fifty day simple moving average is $132.76 and its 200 day simple moving average is $108.19. The firm has a market capitalization of $7.59 billion, a P/E ratio of 34.12 and a beta of 2.55. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38.

Everus Construction Group (NYSE:ECG) last announced its earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $933.81 million. During the same quarter in the previous 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. As a group, sell-side analysts predict that Everus Construction Group, Inc. will post 4.39 EPS for the current year.

About Everus Construction Group

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.