5,884 Everus Construction Group, Inc. $ECG Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 28.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 26,483 shares of the company’s stock after buying an additional 5,884 shares during the period. Oppenheimer & Co. Inc. owned about 0.05% of Everus Construction Group worth $3,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ECG. BlackRock Inc. purchased a new stake in shares of Everus Construction Group in the second quarter worth about $1,094,243,000. First Trust Advisors LP raised its position in Everus Construction Group by 109.9% during the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after acquiring an additional 670,646 shares in the last quarter. De Lisle Partners LLP purchased a new position in Everus Construction Group during the second quarter valued at approximately $59,936,000. Bank of New York Mellon Corp purchased a new position in Everus Construction Group during the second quarter valued at approximately $46,211,000. Finally, Bank of America Corp DE acquired a new position in Everus Construction Group in the second quarter valued at approximately $39,784,000.

Insider Buying and Selling at Everus Construction Group

In related news, VP Paul Sanderson sold 3,300 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $136.69, for a total value of $451,077.00. Following the completion of the sale, the vice president owned 18,950 shares of the company’s stock, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Sparby acquired 1,000 shares of Everus Construction Group stock in a transaction on Monday, August 17th. The shares were bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director directly owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This trade represents a 5.36% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.33% of the stock is currently owned by insiders.

Everus Construction Group Stock Down 5.5%

Shares of ECG opened at $102.07 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. Everus Construction Group, Inc. has a 12 month low of $78.14 and a 12 month high of $171.58. The stock’s 50 day moving average is $114.73 and its two-hundred day moving average is $125.22. The firm has a market cap of $5.21 billion, a P/E ratio of 20.54 and a beta of 2.27.

Everus Construction Group (NYSE:ECG) last announced its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis. Analysts predict that Everus Construction Group, Inc. will post 5.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ECG has been the topic of several recent research reports. DA Davidson initiated coverage on Everus Construction Group in a research report on Friday, August 21st. They issued a “buy” rating and a $168.00 price objective on the stock. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Guggenheim boosted their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald lowered their price target on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Finally, Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. One 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’s stock. Based on data from MarketBeat, Everus Construction Group currently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

About Everus Construction Group

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.