Royal Bank of Canada Decreases Stake in Everus Construction Group, Inc. $ECG

Royal Bank of Canada reduced its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 33.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,709 shares of the company’s stock after selling 21,327 shares during the period. Royal Bank of Canada’s holdings in Everus Construction Group were worth $4,925,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Millennium Management LLC grew its stake in shares of Everus Construction Group by 42.7% in the 1st quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock valued at $9,066,000 after buying an additional 73,128 shares during the period. Goldman Sachs Group Inc. raised its holdings in Everus Construction Group by 74.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock valued at $6,631,000 after buying an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Everus Construction Group by 33.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock valued at $5,207,000 after buying an additional 34,868 shares during the last quarter. Jane Street Group LLC boosted its stake in Everus Construction Group by 184.4% during the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after buying an additional 46,247 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Everus Construction Group by 83.6% during the second quarter. JPMorgan Chase & Co. now owns 55,602 shares of the company’s stock valued at $3,532,000 after acquiring an additional 25,321 shares during the last quarter.

Everus Construction Group Stock Performance

Shares of Everus Construction Group stock opened at $140.23 on Thursday. The business has a 50-day moving average of $141.91 and a 200 day moving average of $130.59. Everus Construction Group, Inc. has a 12 month low of $72.43 and a 12 month high of $171.58. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 28.22 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53.

Everus Construction Group (NYSE:ECG) last issued 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. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations 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 revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. As a group, sell-side analysts forecast that Everus Construction Group, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ECG. Glj Research initiated coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Cantor Fitzgerald lifted their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $162.17.

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 value of $451,077.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate 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.