This Infrastructure Stock Surged Nearly 40% in One Year -- and One Fund Sold $11 Million in Shares

On January 29, Managed Asset Portfolios disclosed a sale of 120,214 shares of Everus Construction Group (NYSE:ECG), an estimated $10.76 million trade based on quarterly average pricing.

What happened

According to an SEC filing dated January 29, Managed Asset Portfolios reduced its position in Everus Construction Group by 120,214 shares during the fourth quarter. The estimated value of shares sold was $10.76 million, calculated using the average closing price over the quarter. At quarter-end, the ECG position was valued at $12.79 million, with the net position change reflecting a $10.34 million decrease after accounting for price movement.

What else to know

The trade lowered the ECG holding to 1.54% of the fund’s 13F reportable assets, down from 2.9% in the prior quarter.

Top holdings after the filing:

• NYSEMKT:CEF: $50.93 million (6.2% of AUM)
• NASDAQ:MSFT: $42.90 million (5.2% of AUM)
• NASDAQ:CSCO: $37.90 million (4.6% of AUM)
• NASDAQ:GOOGL: $33.64 million (4.1% of AUM)
• NASDAQ:SNY: $30.83 million (3.7% of AUM)

As of January 28, shares of ECG were priced at $93.75, up 37.9% over the prior year and well outperforming the S&P 500 by 22.89 percentage points.

Company overview

Company snapshot

• Everus Construction Group offers utility construction services including electrical line and pipeline construction, inside wiring, mechanical services, specialty equipment manufacturing, and fire sprinkler system installation and maintenance.
• The company generates revenue primarily through contracted construction projects and ongoing maintenance services for utilities and commercial clients.
• Based in Bismarck, North Dakota, Everus Construction Group provides services in the U.S. Midwest and urban markets such as Las Vegas and Reno.

Everus Construction Group, Inc. operates at scale in the engineering and construction sector, with a diversified portfolio spanning utility infrastructure and specialty services. The company's integrated business model combines construction expertise with equipment manufacturing and ongoing service contracts, supporting recurring revenue streams. Strategic focus on utility and commercial markets positions Everus to capitalize on infrastructure investment and regulatory-driven demand.

What this transaction means for investors

Everus just delivered a strong third quarter, with revenue up nearly 30% year over year, EBITDA jumping 37%, and backlog climbing to roughly $2.95 billion. Management raised full-year 2025 guidance again, now calling for up to $3.65 billion in revenue and as much as $300 million in EBITDA.

Against that backdrop, this sale looks less like a loss of conviction and more like risk management. The stock is up nearly 38% over the past year, very sharply outperforming the broader market. Trimming exposure after that kind of run can free up capital without abandoning the underlying thesis.

It also fits the fund’s broader posture. The portfolio leans toward diversified income and mega-cap exposure, suggesting a preference for balancing cyclical infrastructure bets with steadier allocations. Ultimately, Everus remains financially strong, with low leverage and rising free cash flow, but concentration cuts after outsized gains are often a feature of disciplined portfolio construction.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Cisco Systems, and Microsoft. The Motley Fool has a disclosure policy.