Everus Construction Group, Inc. (NYSE:ECG) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Everus Construction Group, Inc. (NYSE:ECG) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $169.50.

Several analysts recently commented on ECG shares. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Everus Construction Group in a research report on Thursday, August 6th. Weiss Ratings cut Everus Construction Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 9th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Finally, DA Davidson initiated coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 price objective on the stock.

Insider Transactions at Everus Construction Group

In related news, Director David Sparby bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the transaction, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Sanderson sold 3,300 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $136.69, for a total transaction of $451,077.00. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Everus Construction Group in the second quarter worth approximately $1,094,243,000. Wasatch Advisors LP increased its position 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 valued at $356,216,000 after purchasing an additional 856,912 shares during the period. First Trust Advisors LP raised its stake in shares of 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 worth $151,225,000 after buying an additional 670,646 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Everus Construction Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,149,507 shares of the company’s stock worth $98,369,000 after buying an additional 29,652 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Everus Construction Group by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,105,056 shares of the company’s stock worth $130,431,000 after buying an additional 10,760 shares in the last quarter.

Everus Construction Group Price Performance

Shares of NYSE:ECG opened at $117.65 on Wednesday. The firm’s 50 day moving average is $123.34 and its two-hundred day moving average is $134.27. Everus Construction Group has a 52 week low of $78.14 and a 52 week high of $171.58. The firm has a market capitalization of $6.01 billion, a P/E ratio of 23.67 and a beta of 2.28. 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 (NYSE:ECG) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. Analysts anticipate that Everus Construction Group will post 5.25 earnings per share for the current year.

About Everus Construction Group

Everus Construction Group, Inc is a U.S.-based specialty contractor that provides electrical and mechanical construction services. The company supports utility, commercial, industrial, institutional, renewable energy and infrastructure customers through the design, installation, maintenance and repair of complex construction systems.

Its electrical capabilities include overhead and underground transmission and distribution, substations, power generation, communications infrastructure and renewable energy projects.