Key Points
- Insider sale: Everus Construction Group VP Paul Sanderson sold 3,300 shares at an average price of $136.69, reducing his position by 14.83% to 18,950 shares.
- Strong quarterly results: The company reported $1.64 in quarterly EPS versus the $1.14 consensus estimate, while revenue rose 33.7% year over year to $1.23 billion.
- Analyst outlook remains positive: Everus has a consensus “Moderate Buy” rating and an average price target of $162.17, despite some analysts maintaining Hold ratings.
Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) 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 owned 18,950 shares in the company, valued at approximately $2,590,275.50. This trade represents a 14.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Everus Construction Group Stock Performance
ECG opened at $134.59 on Wednesday. Everus Construction Group, Inc. has a 12-month low of $70.93 and a 12-month high of $171.58. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6.87 billion, a PE ratio of 27.08 and a beta of 2.37. The firm has a 50 day moving average of $142.14 and a two-hundred day moving average of $130.25.
Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.14 by $0.50. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The business's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. On average, analysts anticipate that Everus Construction Group, Inc. will post 5.23 EPS for the current year.
Hedge Funds Weigh In On Everus Construction Group
Large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Everus Construction Group by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock valued at $25,000 after buying an additional 198 shares during the period. Root Financial Partners LLC increased its holdings in Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company's stock valued at $26,000 after buying an additional 121 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Everus Construction Group in the fourth quarter worth about $28,000. Global Retirement Partners LLC acquired a new position in shares of Everus Construction Group in the second quarter worth about $28,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Everus Construction Group during the 4th quarter worth about $30,000.
Analysts Set New Price Targets
Several equities research analysts have commented on ECG shares. Zacks Research lowered shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Guggenheim lifted their price objective 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. Cantor Fitzgerald lifted their price objective on Everus Construction Group from $115.00 to $174.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Oppenheimer reissued an "outperform" rating and issued a $200.00 price objective on shares of Everus Construction Group in a report on Thursday, August 6th. Finally, Freedom Capital upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.17.
Check Out Our Latest Stock Report on ECG
Everus Construction Group Company Profile
(
Get Free Report)
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.
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