State of Alaska Department of Revenue Sells 8,504 Shares of Everus Construction Group, Inc. $ECG

State of Alaska Department of Revenue lessened its stake in Everus Construction Group, Inc. (NYSE:ECG) by 43.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,247 shares of the company’s stock after selling 8,504 shares during the quarter. State of Alaska Department of Revenue’s holdings in Everus Construction Group were worth $1,321,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ECG. Allied Investment Advisors LLC increased its holdings in Everus Construction Group by 13.5% during the 3rd quarter. Allied Investment Advisors LLC now owns 6,419 shares of the company’s stock worth $754,000 after purchasing an additional 763 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Everus Construction Group by 21.5% in the 3rd quarter. Wedmont Private Capital now owns 3,043 shares of the company’s stock valued at $372,000 after purchasing an additional 538 shares during the period. GAMMA Investing LLC raised its stake in shares of Everus Construction Group by 5.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,119 shares of the company’s stock valued at $249,000 after purchasing an additional 105 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Everus Construction Group by 48.9% in the third quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $39,000 after purchasing an additional 110 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Everus Construction Group by 60.1% in the second quarter. Sequoia Financial Advisors LLC now owns 4,183 shares of the company’s stock valued at $694,000 after purchasing an additional 1,571 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. DA Davidson initiated coverage on Everus Construction Group in a research report on Friday, August 21st. They set a “buy” rating and a $168.00 price objective for the company. Guggenheim lifted their target price on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Cantor Fitzgerald reduced their price target on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Insider Activity at Everus Construction Group

In related news, VP Paul Sanderson sold 3,300 shares of the stock in a transaction that occurred 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 approximately $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Sparby purchased 1,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the purchase, the director owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

Everus Construction Group Trading Down 3.1%

Shares of NYSE:ECG opened at $105.36 on Wednesday. The company’s 50-day moving average price is $119.73 and its two-hundred day moving average price is $134.48. 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 $78.14 and a one year high of $171.58. The stock has a market capitalization of $5.38 billion, a PE ratio of 21.20 and a beta of 2.27.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.50. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. On average, equities analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

Everus Construction Group Company Profile

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.