Bank of Nova Scotia Acquires New Shares in Everus Construction Group, Inc. $ECG

Bank of Nova Scotia bought a new stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,904 shares of the company's stock, valued at approximately $5,129,000. Bank of Nova Scotia owned 0.06% of Everus Construction Group at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in Everus Construction Group by 6.7% during the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company's stock valued at $142,000 after purchasing an additional 75 shares during the period. Root Financial Partners LLC raised its holdings in Everus Construction Group by 126.0% in 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 during the period. Maryland State Retirement & Pension System raised its holdings in Everus Construction Group by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,379 shares of the company's stock worth $888,000 after purchasing an additional 146 shares during the period. DMKC Advisory Services LLC boosted its position in shares of Everus Construction Group by 4.2% during the fourth quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company's stock worth $322,000 after purchasing an additional 150 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Everus Construction Group during the second quarter worth $28,000.

Insider Activity

In related news, Director David M. Sparby acquired 1,000 shares of the firm's stock in a transaction on Monday, August 17th. The shares were purchased at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the acquisition, the director directly owned 19,658 shares in the company, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 18,950 shares in the company, valued at $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ECG. Zacks Research cut shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Stifel Nicolaus set a $172.00 target price on Everus Construction Group in a report on Friday, May 8th. Oppenheimer restated an "outperform" rating and issued a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Finally, Freedom Capital upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.50.

Everus Construction Group Trading Down 2.1%

ECG opened at $117.97 on Wednesday. The stock has a market capitalization of $6.02 billion, a P/E ratio of 23.74 and a beta of 2.37. 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, Inc. has a 12 month low of $73.00 and a 12 month high of $171.58. The firm's fifty day simple moving average is $138.48 and its 200 day simple moving average is $133.06.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.Everus Construction Group's quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. As a group, research analysts anticipate that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

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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