58,415 Shares in Everus Construction Group, Inc. $ECG Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 58,415 shares of the company’s stock, valued at approximately $9,694,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after buying an additional 121 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Everus Construction Group during the 2nd quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Everus Construction Group during the 2nd quarter worth about $36,000. Finally, McMillan Office Inc. acquired a new position in Everus Construction Group in the 4th quarter valued at about $43,000.

Analysts Set New Price Targets

ECG has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Everus Construction Group in a report on Tuesday, August 4th. Stifel Nicolaus set a $172.00 price objective on Everus Construction Group in a report on Friday, May 8th. Cantor Fitzgerald decreased their target price on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. DA Davidson initiated coverage on Everus Construction Group in a research note on Friday. They set a “buy” rating and a $168.00 target price on the stock. Finally, Guggenheim boosted their price target on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Everus Construction Group has an average rating of “Moderate Buy” and a consensus target price of $169.50.

Everus Construction Group Price Performance

NYSE:ECG opened at $120.65 on Tuesday. Everus Construction Group, Inc. has a 52 week low of $73.00 and a 52 week high of $171.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. The firm’s 50-day simple moving average is $139.17 and its 200 day simple moving average is $132.83. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 24.28 and a beta of 2.37.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data 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. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, sell-side analysts predict that Everus Construction Group, Inc. will post 5.23 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction that occurred 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 directly owned 18,950 shares in the company, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Sparby purchased 1,000 shares of the business’s stock in a transaction that occurred 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 $2,849,427.10. This trade represents a 5.36% increase in their position. The SEC filing for this purchase provides additional information. 0.33% of the stock is currently owned by insiders.

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.