Everus Construction Group, Inc. $ECG Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 27.7% during the second quarter, Holdings Channel reports. The institutional investor owned 148,046 shares of the company’s stock after acquiring an additional 32,131 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Everus Construction Group were worth $24,568,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ECG. BlackRock Inc. bought a new stake in Everus Construction Group during the second quarter worth approximately $1,094,243,000. Wasatch Advisors LP boosted its stake in Everus Construction Group by 39.7% during the 1st quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock valued at $356,216,000 after purchasing an additional 856,912 shares in the last quarter. Invesco Ltd. boosted its stake in Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after purchasing an additional 832,389 shares in the last quarter. Alliancebernstein L.P. increased its position 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 valued at $85,821,000 after purchasing an additional 72,775 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after purchasing an additional 670,646 shares during the period.

Everus Construction Group Stock Performance

Shares of NYSE ECG opened at $117.29 on Friday. The stock’s fifty day simple moving average is $131.76 and its 200 day simple moving average is $133.79. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 23.60 and a beta of 2.28. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. Everus Construction Group, Inc. has a 52-week low of $73.00 and a 52-week high of $171.58.

Everus Construction Group (NYSE:ECG) last announced its 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 return on equity of 38.22% and a net margin of 5.96%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ECG has been the subject of several research analyst reports. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a report on Thursday, August 6th. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a report on Friday, May 8th. Finally, Cantor Fitzgerald reduced their price objective on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.50.

Insider Activity

In other Everus Construction Group news, Director David M. Sparby purchased 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the acquisition, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president directly owned 18,950 shares in the company, valued at approximately $2,590,275.50. This trade represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by insiders.

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.