Key Points
- Director David Sparby bought 1,000 Everus Construction Group shares at an average price of $144.95, investing $144,950 and increasing his direct ownership by 5.36% to 19,658 shares.
- Everus shares opened at $129.07, down 10.0%, despite the company reporting quarterly EPS of $1.64—well above the $1.14 consensus estimate—and revenue growth of 33.7% year over year to $1.23 billion.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $158.50, while institutional investors including BlackRock and Invesco have recently built significant positions in the company.
Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) Director David Sparby purchased 1,000 shares of Everus Construction Group stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average cost 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 $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Everus Construction Group Stock Down 10.0%
Shares of NYSE ECG opened at $129.07 on Wednesday. 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, Inc. has a 52 week low of $72.43 and a 52 week high of $171.58. The stock has a market capitalization of $6.59 billion, a P/E ratio of 25.97 and a beta of 2.37. The stock's fifty day moving average is $140.85 and its 200 day moving average is $131.86.
Everus Construction Group (NYSE:ECG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the company earned $1.03 EPS. The business's revenue for the quarter was up 33.7% compared to the same quarter last year. Sell-side analysts forecast that Everus Construction Group, Inc. will post 5.23 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Everus Construction Group in a report on Tuesday, August 4th. Zacks Research cut shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Freedom Capital raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald cut their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.50.
Check Out Our Latest Report on Everus Construction Group
Hedge Funds Weigh In On Everus Construction Group
Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Everus Construction Group during the 2nd quarter worth approximately $1,094,243,000. Wasatch Advisors LP acquired a new position in Everus Construction Group in the 4th quarter valued at approximately $184,838,000. Northwestern Mutual Wealth Management Co. raised its stake 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 acquiring an additional 1,260,117 shares during the last quarter. Invesco Ltd. raised its stake in shares of Everus Construction Group by 86.4% during the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company's stock valued at $153,984,000 after acquiring an additional 832,389 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of 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 worth $151,225,000 after purchasing an additional 670,646 shares during the period.
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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