Everus Construction Group (NYSE:ECG) Director David Sparby Purchases 1,000 Shares of Stock

Everus Construction Group, Inc. (NYSE:ECG) Director David Sparby purchased 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were acquired at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director directly owned 19,658 shares in the company, valued at approximately $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Everus Construction Group Trading Down 10.0%

Everus Construction Group stock opened at $129.07 on Wednesday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 25.97 and a beta of 2.37. The firm has a 50-day moving average of $140.85 and a 200-day moving average of $131.86. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. Everus Construction Group, Inc. has a one year low of $72.43 and a one year high of $171.58.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ECG. Guggenheim increased their price objective on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price target on shares of Everus Construction Group in a research note on Thursday, August 6th. Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Everus Construction Group in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.50.

Institutional Investors Weigh In On Everus Construction Group

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Everus Construction Group in the second quarter valued at $1,094,243,000. Wasatch Advisors LP lifted its stake in shares of Everus Construction Group by 39.7% during the 1st quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock worth $356,216,000 after buying an additional 856,912 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after buying an additional 832,389 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Everus Construction Group by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock worth $85,821,000 after buying an additional 72,775 shares during the period. Finally, First Trust Advisors LP grew its stake in Everus Construction Group by 109.9% in the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after buying an additional 670,646 shares during the last quarter.

Everus Construction Group Company 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.