117,934 Shares in Everus Construction Group, Inc. $ECG Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 117,934 Everus Construction Group shares during the second quarter, valued at approximately $19.6 million and representing about 0.23% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $169.50; Guggenheim and Oppenheimer set targets of $184 and $200, respectively.
• Everus reported strong quarterly results, earning $1.64 per share versus the $1.14 estimate and generating $1.23 billion in revenue, up 33.7% year over year. Shares opened at $115.93, down 4.2%, well below the 52-week high of $171.58.

Legal & General Group Plc acquired a new position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 117,934 shares of the company's stock, valued at approximately $19,571,000. Legal & General Group Plc owned approximately 0.23% of Everus Construction Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP raised its holdings in 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 worth $151,225,000 after purchasing an additional 670,646 shares during the last quarter. Fifth Third Bancorp boosted its stake 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 valued at $3,855,000 after purchasing an additional 32,312 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Everus Construction Group by 120.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company's stock worth $4,404,000 after buying an additional 28,164 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $924,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Everus Construction Group during the fourth quarter worth approximately $393,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Guggenheim raised their price objective 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. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a research report on Friday, May 8th. DA Davidson assumed coverage on 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. Finally, Oppenheimer reiterated an "outperform" rating and issued a $200.00 price objective on shares of Everus Construction Group in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $169.50.

Insider Buying and Selling at Everus Construction Group

In other Everus Construction Group news, Director David M. Sparby acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $144.95 per share, with a total value of $144,950.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president owned 18,950 shares in the company, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.33% of the company's stock.

Everus Construction Group Stock Down 4.2%

Shares of NYSE:ECG opened at $115.93 on Friday. Everus Construction Group, Inc. has a 52 week low of $73.00 and a 52 week high of $171.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. The company has a market capitalization of $5.92 billion, a PE ratio of 23.33 and a beta of 2.37. The company has a 50 day moving average price of $136.26 and a two-hundred day moving average price of $133.34.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share 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 company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period last year, the firm posted $1.03 earnings per share. The business's quarterly revenue was up 33.7% compared to the same quarter last year. Analysts forecast that Everus Construction Group, Inc. will post 5.25 earnings per share for the current year.

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.

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