Ancora Advisors LLC Purchases Shares of 60,821 Everus Construction Group, Inc. $ECG

Key Points

• Ancora Advisors acquired 60,821 Everus Construction Group shares during the second quarter, valued at approximately $10.1 million, representing a 0.12% stake.
• Everus reported strong quarterly results, with EPS of $1.64 versus the $1.14 consensus estimate and revenue of $1.23 billion, up 33.7% year over year.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $169.50 price target, although recent targets ranged from $152 to $184.

Ancora Advisors LLC purchased a new stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 60,821 shares of the company's stock, valued at approximately $10,093,000. Ancora Advisors LLC owned 0.12% of Everus Construction Group as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in 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 purchasing an additional 198 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Everus Construction Group by 126.0% during the first quarter. Root Financial Partners LLC now owns 217 shares of the company's stock worth $26,000 after purchasing an additional 121 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Everus Construction Group in the second quarter valued at approximately $28,000. Jones Financial Companies Lllp purchased a new position in shares of Everus Construction Group in the second quarter valued at approximately $36,000. Finally, McMillan Office Inc. acquired a new position in shares of Everus Construction Group in the fourth quarter valued at approximately $43,000.

Everus Construction Group Price Performance

Shares of ECG opened at $117.97 on Wednesday. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 23.74 and a beta of 2.37. The firm's fifty day simple moving average is $138.48 and its 200-day simple moving average is $133.06. Everus Construction Group, Inc. has a twelve month low of $73.00 and a twelve month high of $171.58. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its earnings results 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 firm posted $1.03 earnings per share. The company's revenue was up 33.7% compared to the same quarter last year. Equities analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

Insider Activity

In other Everus Construction Group news, Director David M. Sparby bought 1,000 shares of the business's stock in a transaction dated 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 transaction, the director owned 19,658 shares of the company's stock, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul R. Sanderson sold 3,300 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the sale, the vice president owned 18,950 shares of the company's stock, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

ECG has been the topic of a number of research reports. Freedom Capital upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Guggenheim lifted their target price on Everus Construction Group from $160.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Cantor Fitzgerald lowered their target price on 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, Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Everus Construction Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.50.

About Everus Construction Group

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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