Core Insights - Managed Asset Portfolios sold 120,214 shares of Everus Construction Group, valued at approximately $10.76 million, indicating a reduction in their position during the fourth quarter [1][2] - The sale decreased the fund's holding in Everus from 2.9% to 1.54% of its 13F reportable assets [2][3] - Everus Construction Group's stock price increased by 37.9% over the past year, significantly outperforming the S&P 500 by 22.89 percentage points [3] Company Overview - Everus Construction Group reported a total revenue of $3.49 billion and a net income of $180.96 million for the trailing twelve months [4] - The company's stock price as of January 28 was $93.75, reflecting a one-year price change of 37.89% [4] Business Model and Operations - Everus operates in the engineering and construction sector, focusing on utility infrastructure and specialty services [6][7] - The company generates revenue through contracted construction projects and ongoing maintenance services for utilities and commercial clients [7] - Everus is strategically positioned to benefit from infrastructure investments and regulatory-driven demand [8] Recent Performance and Outlook - The company reported a strong third quarter with revenue growth of nearly 30% year over year and EBITDA growth of 37% [9] - The backlog increased to approximately $2.95 billion, and management raised the full-year 2025 revenue guidance to up to $3.65 billion [9] - The sale of shares by Managed Asset Portfolios is viewed as a risk management strategy rather than a loss of confidence in the company [10] Financial Health - Everus remains financially strong with low leverage and increasing free cash flow [11] - The portfolio management strategy indicates a preference for balancing cyclical infrastructure investments with more stable allocations [11]

Core Insights - Everus Construction Group operates in the U.S. engineering and construction sector, focusing on utility and industrial customers with complex infrastructure needs [1] - The company has seen a significant increase in its stock price, rising 31% over the past year, outperforming the S&P 500, which increased by about 17% in the same period [3] Company Overview - Everus Construction Group provides utility construction services, including electrical line and pipeline construction, inside electrical wiring, cabling, mechanical services, and automatic fire sprinkler systems [3] - The company generates revenue through project-based contracts for construction, installation, ongoing maintenance services, and sales of specialized equipment and systems [2] Financial Performance - In the third quarter, Everus reported a revenue increase of nearly 30% year over year, reaching $986.8 million, with EBITDA climbing 37% to $89 million [6] - The diluted EPS rose to $1.11, and the backlog reached $2.95 billion, with management raising full-year guidance to as much as $3.65 billion in revenue and $300 million in EBITDA [6] Investment Activity - Mountaineer Partners Management reduced its investment in Everus by 36,374 shares, resulting in a decrease in position value by $1.46 million [4][5] - Despite the reduction, Everus still represents about 5.5% of the fund's assets, indicating it remains one of the larger positions in the portfolio [7]

Core Insights - Quanta Services, Inc. (PWR) demonstrated strong performance in Q3 2025, with double-digit revenue growth and margin expansion, primarily driven by increased demand in its Electric segment as utilities and large-scale customers invest in power generation and grid modernization projects [1][3][9] Financial Performance - Adjusted EPS for Quanta was $3.33, reflecting a 22.4% year-over-year increase and surpassing the Zacks Consensus Estimate of $3.25, attributed to revenue scale, operating leverage, and acquisitions [3][9] - Total revenues reached $7.63 billion, a 17.6% increase year-over-year, exceeding the Zacks Consensus Estimate of $7.45 billion, driven by strong performance in Electric Infrastructure and Underground Utility segments [3][9] Margin Analysis - Gross margin improved to 15.9% from 15.6%, supported by effective project execution and scale benefits [4] - Adjusted EBITDA rose 25.7% year-over-year to $858.3 million, with an adjusted EBITDA margin of 11.2%, up from 10.5% [4] - Consolidated operating income increased to $517.2 million, a 20% year-over-year rise, with a margin of 6.8%, up 20 basis points from the previous year [4] Backlog and Demand - Quanta ended Q3 with a record backlog of $32.64 billion, up from $27.52 billion a year ago, indicating strong demand visibility [5] - Remaining performance obligations increased to $19.1 billion, further underscoring robust demand [5] Segment Performance - The Electric segment, accounting for 80.9% of total revenues, generated $6.17 billion, a 17.9% year-over-year increase, with an operating margin of 11.4% [6] - The Underground and Infrastructure segment contributed $1.46 billion in revenues, up 15.9% year-over-year, with a margin of 8.4% [7] Balance Sheet Overview - As of September 30, 2025, Quanta held $610.4 million in cash and cash equivalents, down from $742 million at the end of 2024, while long-term debt increased to $5.53 billion from $4.10 billion [10] - Free cash flow was reported at $726.3 million, a decrease from $979.3 million a year ago [10] Outlook - Quanta raised its full-year 2025 guidance, now expecting revenues between $27.8 billion and $28.2 billion, and adjusted EPS in the range of $10.33 to $10.83 [11]

SAN DIEGO, April 21, 2025 /PRNewswire/ -- Robbins LLP reminds stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Everus Construction Group, Inc. ("Everus") (NYSE: ECG) common stock between October 31, 2024 and February 11, 2025, including investors who held MDU Resources Group, Inc. ("MDU Resources") common stock as of October 21, 2024 and acquired Everus common stock issued in connection with the spinoff of Everus Construction on or about Octob ...