9,951 Shares in Everus Construction Group, Inc. $ECG Acquired by Formula Growth Ltd.

Formula Growth Ltd. purchased a new stake in Everus Construction Group, Inc. (NYSE:ECG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,951 shares of the company’s stock, valued at approximately $1,651,000.

Several other hedge funds have also added to or reduced their stakes in ECG. BlackRock Inc. acquired a new position in shares of Everus Construction Group in the second quarter valued at $1,094,243,000. Wasatch Advisors LP lifted its stake in shares of Everus Construction Group by 39.7% during the 1st quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock worth $356,216,000 after buying an additional 856,912 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after buying an additional 832,389 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Everus Construction Group by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock worth $85,821,000 after buying an additional 72,775 shares during the period. Finally, First Trust Advisors LP grew its stake in Everus Construction Group by 109.9% in the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after buying an additional 670,646 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Cantor Fitzgerald reduced their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Guggenheim upped their target price on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Everus Construction Group presently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Buying and Selling

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

Everus Construction Group Trading Up 0.1%

Shares of Everus Construction Group stock opened at $121.25 on Friday. The firm has a 50-day moving average of $137.10 and a 200-day moving average of $133.46. The stock has a market cap of $6.19 billion, a PE ratio of 24.40 and a beta of 2.37. Everus Construction Group, Inc. has a 52-week low of $73.00 and a 52-week high of $171.58. 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 (NYSE:ECG) last released its quarterly 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $1.03 earnings per share. Everus Construction Group’s revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Everus Construction Group Company 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.