BlackRock Inc. Acquires Shares of 6,593,812 Everus Construction Group, Inc. $ECG

BlackRock Inc. acquired a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,593,812 shares of the company's stock, valued at approximately $1,094,243,000. BlackRock Inc. owned approximately 12.92% of Everus Construction Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Everus Construction Group during the second quarter worth approximately $28,000. Root Financial Partners LLC increased its holdings in shares of Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company's stock valued at $26,000 after purchasing an additional 121 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Everus Construction Group in the 2nd quarter worth approximately $58,000. Geneos Wealth Management Inc. lifted its holdings in Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock worth $25,000 after buying an additional 198 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in Everus Construction Group during the 2nd quarter worth $77,000.

Insider Activity at Everus Construction Group

In other Everus Construction Group news, Director David M. Sparby acquired 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were bought 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 of the company's stock, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 on Friday, August 7th. The stock was 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 approximately $2,590,275.50. This represents a 14.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company's stock.

Everus Construction Group Trading Up 0.5%

Shares of NYSE:ECG opened at $125.91 on Friday. Everus Construction Group, Inc. has a 12 month low of $73.00 and a 12 month high of $171.58. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company's fifty day simple moving average is $139.89 and its 200 day simple moving average is $132.34. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 25.33 and a beta of 2.37.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its 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. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. As a group, research analysts forecast that Everus Construction Group, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ECG shares. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Guggenheim raised their price target on Everus Construction Group from $160.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Oppenheimer reiterated an "outperform" rating and issued a $200.00 price objective on shares of Everus Construction Group in a research report on Thursday, August 6th. Finally, Zacks Research cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus 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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