Everus Construction Group, Inc. $ECG Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 60.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,196,538 shares of the company’s stock after selling 1,820,711 shares during the period. Everus Construction Group comprises about 1.3% of Wasatch Advisors LP’s portfolio, making the stock its 24th largest holding. Wasatch Advisors LP owned 2.34% of Everus Construction Group worth $198,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Root Financial Partners LLC grew 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 purchasing an additional 121 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Everus Construction Group in the fourth quarter valued at approximately $28,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Everus Construction Group in the fourth quarter valued at approximately $30,000. Finally, McMillan Office Inc. acquired a new position in shares of Everus Construction Group during the 4th quarter worth approximately $43,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ECG. Cantor Fitzgerald increased their target price on Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Guggenheim boosted their price target on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research report on Friday, May 8th. Glj Research started coverage on shares of Everus Construction Group in a report on Monday, April 20th. They set a “hold” rating and a $141.00 price objective on the stock. Finally, Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.17.

Everus Construction Group Stock Performance

ECG opened at $134.59 on Wednesday. The firm has a market capitalization of $6.87 billion, a PE ratio of 27.08 and a beta of 2.37. Everus Construction Group, Inc. has a twelve month low of $70.93 and a twelve month high of $171.58. The firm’s 50-day moving average price is $142.14 and its 200 day moving average price is $130.25. 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 data on Tuesday, August 4th. The company reported $1.64 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Everus Construction Group’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, sell-side analysts expect that Everus Construction Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Activity

In other news, VP Paul R. Sanderson sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was 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 $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

Everus Construction Group 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.