California State Teachers Retirement System Buys 9,032,163 Shares of Everus Construction Group, Inc. $ECG

California State Teachers Retirement System boosted its stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 15,822.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 9,089,247 shares of the company's stock after buying an additional 9,032,163 shares during the period. California State Teachers Retirement System owned approximately 17.80% of Everus Construction Group worth $1,508,361,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Everus Construction Group by 155.0% in the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company's stock valued at $1,811,000 after purchasing an additional 29,689 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Everus Construction Group by 42.7% during the first quarter. Millennium Management LLC now owns 244,421 shares of the company's stock worth $9,066,000 after buying an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Everus Construction Group by 74.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company's stock valued at $6,631,000 after acquiring an additional 76,252 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Everus Construction Group by 33.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company's stock valued at $5,207,000 after acquiring an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Everus Construction Group by 184.4% during the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company's stock valued at $2,645,000 after acquiring an additional 46,247 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have commented on ECG. Cantor Fitzgerald reduced their price target on Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating on the stock in a research report on Thursday, August 13th. Guggenheim increased their price target on Everus Construction Group from $160.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. DA Davidson started coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They issued a "buy" rating and a $168.00 price objective for the company. Weiss Ratings lowered Everus Construction Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Finally, Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.50.

Insider Transactions at Everus Construction Group

In other news, Director David M. Sparby bought 1,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was purchased 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 transaction was disclosed in a legal 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 shares were sold at an average price of $136.69, for a total transaction of $451,077.00. Following the sale, the vice president owned 18,950 shares in the company, valued at approximately $2,590,275.50. This trade represents a 14.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by company insiders.

Everus Construction Group Stock Performance

Shares of ECG opened at $119.49 on Friday. Everus Construction Group, Inc. has a 52-week low of $77.67 and a 52-week high of $171.58. The stock's 50-day simple moving average is $128.46 and its 200 day simple moving average is $134.27. 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 stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 24.04 and a beta of 2.28.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating 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 analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company's quarterly revenue was up 33.7% compared to the same quarter last year. Research analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

About Everus Construction Group

Everus Construction Group, Inc is a U.S.-based specialty contractor that provides electrical and mechanical construction services. The company supports utility, commercial, industrial, institutional, renewable energy and infrastructure customers through the design, installation, maintenance and repair of complex construction systems.

Its electrical capabilities include overhead and underground transmission and distribution, substations, power generation, communications infrastructure and renewable energy projects.

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