Balyasny Asset Management L.P. Takes $1.61 Million Position in Everus (NYSE:ECG)

Balyasny Asset Management L.P. acquired a new position in shares of Everus (NYSE:ECG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,550 shares of the company's stock, valued at approximately $1,614,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. acquired a new position in shares of Everus in the fourth quarter valued at approximately $26,000. Principal Securities Inc. acquired a new position in shares of Everus during the fourth quarter worth $27,000. HighMark Wealth Management LLC bought a new position in Everus during the 4th quarter worth $28,000. Crews Bank & Trust bought a new position in Everus during the 4th quarter worth $29,000. Finally, Mendota Financial Group LLC bought a new position in Everus during the 4th quarter worth $36,000.

Insider Activity

In other news, Director Edward A. Ryan purchased 1,400 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average cost of $38.02 per share, for a total transaction of $53,228.00. Following the acquisition, the director now owns 14,928 shares of the company's stock, valued at approximately $567,562.56. This trade represents a 10.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rocca Michael Della purchased 1,050 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $47.56 per share, for a total transaction of $49,938.00. Following the completion of the acquisition, the director now directly owns 2,027 shares in the company, valued at $96,404.12. The trade was a 107.47% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,750 shares of company stock worth $153,853 over the last 90 days. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their target price on Everus from $67.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th.

Everus Trading Up 4.6%

Shares of NYSE:ECG opened at $50.15 on Tuesday. The stock has a fifty day moving average of $39.52. The company has a quick ratio of 1.50, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Everus has a 52-week low of $31.38 and a 52-week high of $77.93.

Everus (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). As a group, equities analysts anticipate that Everus will post 2.49 earnings per share for the current fiscal year.

Everus 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.

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