EFG International AG Buys New Shares in Everus Construction Group, Inc. $ECG

EFG International AG bought a new position in Everus Construction Group, Inc. (NYSE:ECG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 41,632 shares of the company's stock, valued at approximately $6,909,000. EFG International AG owned about 0.08% of Everus Construction Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Everus Construction Group in the second quarter valued at about $1,094,243,000. Wasatch Advisors LP raised its stake in shares of Everus Construction Group by 39.7% in the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company's stock worth $356,216,000 after purchasing an additional 856,912 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Everus Construction Group by 86.4% during the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company's stock worth $153,984,000 after purchasing an additional 832,389 shares during the period. Alliancebernstein L.P. boosted its position in Everus Construction Group by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company's stock valued at $85,821,000 after buying an additional 72,775 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock valued at $151,225,000 after buying an additional 670,646 shares during the last quarter.

Insider Buying and Selling

In other news, Director David M. Sparby acquired 1,000 shares of the company'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 purchase, the director directly owned 19,658 shares of the company's stock, valued at $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 this hyperlink. Also, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group 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 transaction, the vice president directly owned 18,950 shares of the company's stock, valued at approximately $2,590,275.50. This trade represents a 14.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by company insiders.

Everus Construction Group Stock Down 2.1%

Shares of ECG opened at $117.97 on Wednesday. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 23.74 and a beta of 2.37. Everus Construction Group, Inc. has a 52 week low of $73.00 and a 52 week high of $171.58. The stock's 50-day moving average price is $138.48 and its 200-day moving average price is $133.06. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period last year, the business earned $1.03 earnings per share. Everus Construction Group's quarterly revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts predict that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ECG. Freedom Capital upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. DA Davidson began coverage on shares of Everus Construction Group in a report on Friday, August 21st. They issued a "buy" rating and a $168.00 price objective on the stock. Zacks Research downgraded shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Oppenheimer reiterated an "outperform" rating and issued a $200.00 price objective on shares of Everus Construction Group in a research note on Thursday, August 6th. Finally, Guggenheim raised their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $169.50.

Everus Construction Group Company 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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