Everus Construction Group, Inc. $ECG Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its position in Everus Construction Group, Inc. (NYSE:ECG) by 60.3% in the second quarter, HoldingsChannel reports. The firm owned 1,196,538 shares of the company’s stock after selling 1,820,711 shares during the period. Everus Construction Group makes up about 1.3% of Wasatch Advisors LP’s portfolio, making the stock its 24th biggest holding. Wasatch Advisors LP’s holdings in Everus Construction Group were worth $198,565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC purchased a new position in Everus Construction Group during the second quarter worth about $274,000. Abner Herrman & Brock LLC purchased a new stake in shares of Everus Construction Group in the 2nd quarter valued at approximately $249,000. GAMMA Investing LLC increased its holdings in shares of Everus Construction Group by 32.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,014 shares of the company’s stock worth $334,000 after buying an additional 498 shares during the last quarter. Ballast Advisors LLC acquired a new stake in shares of Everus Construction Group during the 1st quarter worth approximately $84,000. Finally, Empowered Funds LLC acquired a new stake in shares of Everus Construction Group during the 1st quarter worth approximately $230,000.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $134.59 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. Everus Construction Group, Inc. has a 52 week low of $70.93 and a 52 week high of $171.58. The stock has a market capitalization of $6.87 billion, a PE ratio of 27.08 and a beta of 2.37. The firm has a 50 day moving average of $142.14 and a two-hundred day moving average of $130.25.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The company’s revenue was up 33.7% on a year-over-year basis. On average, research analysts predict that Everus Construction Group, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on ECG. Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a report on Friday, May 8th. Finally, Glj Research began coverage on shares of Everus Construction Group in a report on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.17.

Insider Transactions at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the transaction, the vice president directly owned 18,950 shares of the company’s stock, valued at $2,590,275.50. The trade was a 14.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Everus Construction Group 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.