Nicholas Investment Partners LP Purchases New Position in Everus Construction Group, Inc. $ECG

Nicholas Investment Partners LP purchased a new position in shares of Everus Construction Group, Inc. (NYSE:ECG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,415 shares of the company’s stock, valued at approximately $9,694,000. Nicholas Investment Partners LP owned approximately 0.11% of Everus Construction Group as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ECG. Royal Bank of Canada increased its position in shares of Everus Construction Group by 155.0% during the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock worth $1,811,000 after acquiring an additional 29,689 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Everus Construction Group by 42.7% in the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock valued at $9,066,000 after purchasing an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Everus Construction Group by 74.4% during the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after buying an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Everus Construction Group by 33.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock worth $5,207,000 after buying an additional 34,868 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Everus Construction Group by 184.4% during the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after buying an additional 46,247 shares in the last quarter.

Analyst Upgrades and Downgrades

ECG has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. DA Davidson assumed coverage on Everus Construction Group in a research report on Friday. They set a “buy” rating and a $168.00 price target for the company. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a research note on Friday, May 8th. Guggenheim lifted their price objective on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald cut their price objective 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, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Activity at Everus Construction Group

In related news, Director David M. Sparby acquired 1,000 shares of the business’s stock in a transaction dated 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 acquisition, the director owned 19,658 shares in the company, valued at $2,849,427.10. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul R. Sanderson sold 3,300 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were 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 directly owned 18,950 shares of the company’s stock, valued at $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is owned by insiders.

Everus Construction Group Price Performance

Shares of NYSE ECG opened at $120.65 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. The business has a 50-day moving average of $139.17 and a 200-day moving average of $132.83. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 24.28 and a beta of 2.37. Everus Construction Group, Inc. has a fifty-two week low of $73.00 and a fifty-two week high of $171.58.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.50. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.Everus Construction Group’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, sell-side analysts predict that Everus Construction Group, Inc. will post 5.23 earnings per share for the current fiscal year.

About Everus Construction Group

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.