Engineers Gate Manager LP Cuts Stake in Everus Construction Group, Inc. $ECG

Engineers Gate Manager LP cut its stake in Everus Construction Group, Inc. (NYSE:ECG) by 61.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 17,249 shares of the company’s stock after selling 27,807 shares during the period. Engineers Gate Manager LP’s holdings in Everus Construction Group were worth $2,862,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ECG. Fifth Third Bancorp raised its position in shares of Everus Construction Group by 9,475.7% in the 1st quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock worth $3,855,000 after buying an additional 32,312 shares during the period. First Trust Advisors LP increased its stake in Everus Construction Group by 109.9% during the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after acquiring an additional 670,646 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Everus Construction Group during the fourth quarter worth about $393,000. GSA Capital Partners LLP purchased a new position in shares of Everus Construction Group in the 4th quarter worth about $924,000. Finally, Sierra Summit Advisors LLC purchased a new position in shares of Everus Construction Group in the 4th quarter worth about $808,000.

Everus Construction Group Stock Performance

ECG stock opened at $119.49 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The firm has a market cap of $6.10 billion, a P/E ratio of 24.04 and a beta of 2.28. Everus Construction Group, Inc. has a 12-month low of $77.67 and a 12-month high of $171.58. The stock’s 50 day simple moving average is $128.46 and its 200 day simple moving average is $134.46.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, equities research analysts predict that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ECG. Zacks Research upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price target on shares of Everus Construction Group in a research report on Thursday, August 6th. DA Davidson assumed coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 price objective for the company. Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Guggenheim raised their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Everus Construction Group presently has an average rating of “Moderate Buy” and an average target price of $169.50.

Insider Transactions at Everus Construction Group

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

About Everus Construction Group

Everus Construction Group, Inc is a U.S.-based specialty contractor that provides electrical and mechanical construction services. The company supports utility, commercial, industrial, institutional, renewable energy and infrastructure customers through the design, installation, maintenance and repair of complex construction systems.

Its electrical capabilities include overhead and underground transmission and distribution, substations, power generation, communications infrastructure and renewable energy projects.