Wasatch Advisors disclosed a new stake in Everus Construction Group (ECG 2.45%) in its February 12, 2026, SEC filing, acquiring 2,160,337 shares worth $184.84 million.
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 12, 2026, Wasatch Advisors established a new position in Everus Construction Group (ECG 2.45%), acquiring 2,160,337 shares. The quarter-end value of the stake totaled $184.84 million, reflecting both the purchase and stock price shifts during the period.
What else to know
- This is a new position for Wasatch Advisors LP, accounting for 1.1% of the fund’s 13F assets under management as of December 31, 2025.
- Top holdings after the filing:
- NASDAQ: HQY: $603.68 million (3.6% of AUM)
- NASDAQ: ENSG: $494.48 million (2.9% of AUM)
- NYSE: RBC: $449.93 million (2.7% of AUM)
- NASDAQ: NVMI: $439.43 million (2.6% of AUM)
- NYSE: FOUR: $426.87 million (2.5% of AUM)
- As of February 12, 2026, Everus Construction Group shares were priced at $101.27, up about 100% over the past year and significantly outperforming the S&P 500’s roughly 13% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $5.17 billion |
| Revenue (TTM) | $3.49 billion |
| Net income (TTM) | $180.96 million |
| Price (as of market close 2026-02-12) | $101.27 |
Company snapshot
- Everus Construction Group provides utility construction services, including electrical line and pipeline construction, inside electrical wiring and cabling, mechanical services, and specialty equipment manufacturing and distribution.
- The firm generates revenue through large-scale infrastructure projects, equipment sales, and ongoing maintenance and installation contracts in the utility and construction sectors.
- It serves utility companies, industrial clients, and commercial customers, with a focus on the U.S. Midwest and key metropolitan regions such as Las Vegas and Reno.
Everus Construction Group, Inc. operates at scale within the engineering and construction industry, with a diversified service offering that spans utility infrastructure, specialty equipment, and maintenance. The company's strategy emphasizes integrated solutions for complex utility and industrial projects, leveraging expertise in both construction and manufacturing. This diversified approach provides a competitive edge in securing long-term contracts and recurring revenue streams from major utility and commercial clients.
What this transaction means for investors
Momentum alone does not justify conviction, but Everus has fundamentals to back up its surging stock price, and that is what makes this move interesting.
Everus recently posted third quarter revenue of $986.8 million, up 30% year over year, with EBITDA climbing 36.9% to $89.0 million and margins expanding to 9.0%. Backlog sits at $2.95 billion, up 6% from year end, and management lifted full year guidance to as much as $3.65 billion in revenue and $300 million in EBITDA.
The stock has already doubled over the past year, so this is not a deep value play. But within a portfolio that tilts toward growth-oriented healthcare and technology names, a profitable infrastructure contractor with rising margins and low leverage adds a different kind of cyclical exposure.
For long-term investors, the key question is durability. Data center and utility demand are driving results today. If backlog converts efficiently and capital discipline remains intact, earnings power could still compound from here. Just recognize that in construction, execution, and timing matter as much as demand. The next key catalyst is Wednesday, when fourth-quarter earnings are due out.
