Everus Construction Group (NYSE:ECG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Everus Construction Group (NYSE:ECG) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on ECG. Cantor Fitzgerald reduced their price target on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Oppenheimer dropped their price objective on Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. Guggenheim raised their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.50.

Everus Construction Group Stock Up 10.3%

Everus Construction Group stock opened at $84.53 on Friday. Everus Construction Group has a 1-year low of $70.44 and a 1-year high of $171.58. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 14.96 and a beta of 2.36. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $110.85 and a 200 day simple moving average of $125.16.

Everus Construction Group (NYSE:ECG) last issued its earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.48. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Everus Construction Group had a net margin of 6.20% and a return on equity of 39.18%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, analysts predict that Everus Construction Group will post 5.55 earnings per share for the current year.

Insider Activity

In other news, Director David Sparby acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was purchased at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the acquisition, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Institutional Trading of Everus Construction Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtus Advisers LLC grew its holdings in shares of Everus Construction Group by 74.7% during the 3rd quarter. Virtus Advisers LLC now owns 11,554 shares of the company’s stock valued at $1,358,000 after purchasing an additional 4,942 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Everus Construction Group by 5.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 98,562 shares of the company’s stock valued at $11,583,000 after acquiring an additional 5,080 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Everus Construction Group by 39.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,948 shares of the company’s stock worth $1,639,000 after purchasing an additional 3,971 shares during the period. Ritholtz Wealth Management increased its stake in Everus Construction Group by 24.5% in the 3rd quarter. Ritholtz Wealth Management now owns 2,720 shares of the company’s stock worth $320,000 after purchasing an additional 535 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in Everus Construction Group in the third quarter valued at approximately $1,467,000.

About Everus Construction Group

Everus Construction Group provides construction services for commercial, industrial, institutional and utility customers. Its work includes electrical and mechanical construction, fire protection, and the building and maintenance of infrastructure for energy and utility systems.

The company also performs utility and civil construction, including work on electric transmission and distribution lines, underground utilities, pipelines, water and sewer systems, and transportation-related infrastructure.

Everus is headquartered in Bismarck, North Dakota, and serves customers across the United States, with operations concentrated in the central and western regions.