The Manufacturers Life Insurance Company Purchases Shares of 15,143 Everus Construction Group, Inc. $ECG

The Manufacturers Life Insurance Company acquired a new position in shares of Everus Construction Group, Inc. (NYSE:ECG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 15,143 shares of the company’s stock, valued at approximately $2,513,000.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in shares of 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 last quarter. Root Financial Partners LLC increased its position in shares of Everus Construction Group by 126.0% during the first quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after acquiring an additional 121 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Everus Construction Group in the 2nd quarter worth about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Everus Construction Group in the 2nd quarter worth about $36,000. Finally, McMillan Office Inc. bought a new position in Everus Construction Group in the 4th quarter valued at about $43,000.

Insider Buying and Selling

In other Everus Construction Group news, Director David M. Sparby purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average cost of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. The trade was a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction 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 sale, the vice president owned 18,950 shares in the company, valued at $2,590,275.50. This trade represents a 14.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Stifel Nicolaus set a $172.00 price objective on Everus Construction Group in a research note on Friday, May 8th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Cantor Fitzgerald cut their target price on 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. Finally, Zacks Research upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $169.50.

Everus Construction Group Stock Down 1.0%

ECG opened at $112.51 on Thursday. 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 company’s 50-day moving average is $133.48 and its 200 day moving average is $133.83. Everus Construction Group, Inc. has a fifty-two week low of $73.00 and a fifty-two week high of $171.58. The firm has a market capitalization of $5.75 billion, a P/E ratio of 22.64 and a beta of 2.29.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50. The business had revenue of $1.23 billion during 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 firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. Research analysts expect that Everus Construction Group, Inc. will post 5.25 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.