Ancora Advisors LLC Has $10.09 Million Holdings in Everus Construction Group, Inc. $ECG

Key Points

• Ancora Advisors reduced its Everus Construction Group stake by 37% in the second quarter, selling 35,661 shares and retaining 60,821 shares worth approximately $10.09 million.
• Everus reported strong quarterly results, with EPS of $1.64 versus the $1.14 consensus and revenue of $1.23 billion, up 33.7% year over year. Analysts project full-year EPS of $5.25.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and a $169.50 average price target, despite recent target reductions from some analysts. Shares opened at $113.70, compared with a 52-week range of $73.00 to $171.58.

Ancora Advisors LLC trimmed its position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 37.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,821 shares of the company's stock after selling 35,661 shares during the period. Ancora Advisors LLC owned approximately 0.12% of Everus Construction Group worth $10,093,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Geneos Wealth Management Inc. raised its holdings in shares of Everus Construction Group by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock worth $25,000 after acquiring an additional 198 shares during the period. Root Financial Partners LLC increased its stake in Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company's stock valued at $26,000 after buying an additional 121 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Everus Construction Group during the second quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in Everus Construction Group in the second quarter valued at approximately $36,000. Finally, McMillan Office Inc. bought a new position in Everus Construction Group in the 4th quarter valued at approximately $43,000.

Insider Activity at Everus Construction Group

In other Everus Construction Group news, Director David M. Sparby purchased 1,000 shares of the company's stock in a transaction dated Monday, August 17th. The stock was purchased at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the transaction, the director owned 19,658 shares in the company, valued at $2,849,427.10. The trade was a 5.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Paul R. Sanderson sold 3,300 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by insiders.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $113.70 on Wednesday. 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 firm has a market cap of $5.81 billion, a price-to-earnings ratio of 22.88 and a beta of 2.29. Everus Construction Group, Inc. has a 52 week low of $73.00 and a 52 week high of $171.58. The firm's 50-day simple moving average is $134.40 and its two-hundred day simple moving average is $133.76.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.50. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $1.03 earnings per share. The business's revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities analysts forecast that Everus Construction Group, Inc. will post 5.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Freedom Capital upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a report on Friday, May 8th. Cantor Fitzgerald reduced their target price on shares of Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating for the company in a research note on Thursday, August 13th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $200.00 target price on shares of Everus Construction Group in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.50.

Everus Construction Group 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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