NewEdge Advisors LLC Sells 6,752 Shares of Everus Construction Group, Inc. $ECG

NewEdge Advisors LLC decreased its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 23.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,802 shares of the company’s stock after selling 6,752 shares during the period. NewEdge Advisors LLC’s holdings in Everus Construction Group were worth $2,574,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wasatch Advisors LP grew its stake in shares of Everus Construction Group by 39.7% in the 1st quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock valued at $356,216,000 after buying an additional 856,912 shares during the period. Invesco Ltd. grew its stake in shares of Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after acquiring an additional 832,389 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Everus Construction Group by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after purchasing an additional 72,775 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after purchasing an additional 670,646 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Everus Construction Group by 147,209.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock valued at $107,889,000 after purchasing an additional 1,260,117 shares in the last quarter.

Insider Activity at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was 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 $2,590,275.50. This trade represents a 14.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Glj Research assumed coverage on Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Cantor Fitzgerald cut their target price on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research report on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Guggenheim increased their price objective on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Freedom Capital raised 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, three have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.50.

Everus Construction Group Price Performance

Shares of Everus Construction Group stock opened at $136.91 on Friday. The company has a fifty day moving average of $141.56 and a 200-day moving average of $130.92. Everus Construction Group, Inc. has a 52-week low of $72.43 and a 52-week high of $171.58. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 27.55 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. Equities research analysts expect that Everus Construction Group, Inc. will post 5.23 EPS for the current year.

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.