Corvex Management LP Makes New $21.22 Million Investment in Everus (NYSE:ECG)

Corvex Management LP acquired a new stake in shares of Everus (NYSE:ECG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 322,706 shares of the company's stock, valued at approximately $21,218,000. Everus comprises about 0.6% of Corvex Management LP's investment portfolio, making the stock its 25th biggest position. Corvex Management LP owned about 0.63% of Everus at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Forza Wealth Management LLC purchased a new stake in Everus during the fourth quarter valued at $336,000. Mendota Financial Group LLC purchased a new stake in shares of Everus during the 4th quarter valued at about $36,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Everus during the 4th quarter valued at about $292,000. Hennessy Advisors Inc. bought a new position in shares of Everus in the 4th quarter worth approximately $31,611,000. Finally, Brady Martz Wealth Solutions LLC purchased a new position in shares of Everus in the fourth quarter worth approximately $472,000.

Insider Buying and Selling at Everus

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

Everus Stock Down 0.5 %

Shares of ECG traded down $0.25 during trading hours on Friday, reaching $48.02. 781,592 shares of the stock traded hands, compared to its average volume of 720,109. Everus has a 52-week low of $31.38 and a 52-week high of $77.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.58. The company's 50-day simple moving average is $39.31.

Everus (NYSE:ECG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). On average, sell-side analysts forecast that Everus will post 2.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price objective on Everus from $67.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th.

About Everus

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.